Key Points
- Director Bahram Akradi bought 25,760 shares of Northern Oil and Gas at an average price of $19.40 per share, a transaction worth about $499,744 and boosting his holdings by 1.53%.
- NOG recently reported quarterly earnings of $0.74 per share, topping analyst expectations, though revenue came in far below estimates and was down 6.2% year over year.
- The company declared a quarterly dividend of $0.45 per share, equal to an annualized yield of 9.2%; meanwhile, analysts currently rate the stock a consensus Hold with a $32.38 price target.
Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) Director Bahram Akradi acquired 25,760 shares of the stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $19.40 per share, with a total value of $499,744.00. Following the transaction, the director directly owned 1,713,444 shares of the company's stock, valued at $33,240,813.60. The trade was a 1.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Northern Oil and Gas Stock Performance
Shares of NYSE:NOG opened at $19.49 on Thursday. The firm has a fifty day simple moving average of $23.23 and a two-hundred day simple moving average of $24.57. Northern Oil and Gas, Inc. has a 52 week low of $18.63 and a 52 week high of $31.28. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $2.12 billion, a P/E ratio of -3.06 and a beta of 0.68.
Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. The firm had revenue of $5.03 million for the quarter, compared to analysts' expectations of $511.38 million. During the same period in the prior year, the company earned $1.33 EPS. The business's revenue was down 6.2% compared to the same quarter last year. On average, analysts expect that Northern Oil and Gas, Inc. will post 3.42 earnings per share for the current fiscal year.
Northern Oil and Gas Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 9.2%. The ex-dividend date of this dividend is Monday, June 29th. Northern Oil and Gas's payout ratio is presently -28.26%.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of NOG. Ascentis Independent Advisors bought a new position in shares of Northern Oil and Gas during the first quarter valued at approximately $33,000. Jones Financial Companies Lllp raised its holdings in shares of Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company's stock worth $33,000 after buying an additional 713 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Northern Oil and Gas by 572.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company's stock worth $36,000 after acquiring an additional 1,432 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of Northern Oil and Gas during the 4th quarter worth approximately $43,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Northern Oil and Gas by 429.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company's stock worth $43,000 after acquiring an additional 1,228 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on NOG shares. Weiss Ratings lowered Northern Oil and Gas from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, May 4th. Raymond James Financial set a $30.00 target price on Northern Oil and Gas and gave the company an "outperform" rating in a research report on Monday, June 15th. Piper Sandler increased their price target on Northern Oil and Gas from $27.00 to $32.00 and gave the company a "neutral" rating in a report on Thursday, March 12th. Bank of America raised their price target on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Finally, Royal Bank Of Canada lifted their price objective on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $32.38.
Read Our Latest Stock Report on Northern Oil and Gas
Northern Oil and Gas Company Profile
(
Get Free Report)
Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company's primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.
Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.
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