Northern Oil and Gas (NYSE:NOG) Director Purchases 25,760 Shares of Stock

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 valued at about $499,744. After the purchase, he owned 1,713,444 shares, representing a 1.53% increase in his position.
• The company recently paid a quarterly dividend of $0.45 per share, with an annualized payout of $1.80 and a high yield of 9.3%. The ex-dividend date was June 29, and payment is scheduled for July 31.
• Analysts remain mixed on NOG, with a consensus rating of “Hold” and an average price target of $32.38. Recent ratings ranged from buy upgrades to underweight and sell calls, reflecting divided expectations for the stock.

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) Director Bahram Akradi acquired 25,760 shares of the business's stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $19.40 per share, with a total value of $499,744.00. Following the acquisition, the director owned 1,713,444 shares in the company, valued at $33,240,813.60. The trade was a 1.53% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Northern Oil and Gas Price Performance

NOG traded down $0.13 during trading on Wednesday, reaching $19.29. The company's stock had a trading volume of 2,010,405 shares, compared to its average volume of 2,587,875. Northern Oil and Gas, Inc. has a 1 year low of $18.63 and a 1 year high of $31.28. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -3.02 and a beta of 0.68. 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 firm has a fifty day simple moving average of $23.39 and a two-hundred day simple moving average of $24.61.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued 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. The company had revenue of $5.03 million during the quarter, compared to analysts' expectations of $511.38 million. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The firm's quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.33 EPS. As a group, analysts anticipate that Northern Oil and Gas, Inc. will post 3.42 EPS for the current year.

Northern Oil and Gas Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, June 29th. This represents a $1.80 dividend on an annualized basis and a yield of 9.3%. Northern Oil and Gas's payout ratio is -28.26%.

Wall Street Analysts Forecast Growth

NOG has been the subject of several analyst reports. Wall Street Zen raised shares of Northern Oil and Gas from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Morgan Stanley reaffirmed an "underweight" rating and set a $29.00 price target (up from $28.00) on shares of Northern Oil and Gas in a research report on Friday, May 22nd. Piper Sandler increased their price objective on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a "neutral" rating in a research report on Thursday, March 12th. Weiss Ratings lowered Northern Oil and Gas from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada raised their target price on 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 equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $32.38.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Ascentis Independent Advisors purchased a new stake in shares of Northern Oil and Gas in the 1st quarter valued at approximately $33,000. Jones Financial Companies Lllp boosted its position in shares of Northern Oil and Gas by 181.0% during the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company's stock worth $33,000 after purchasing an additional 713 shares during the period. Global Retirement Partners LLC increased its holdings in Northern Oil and Gas by 572.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company's stock valued at $36,000 after purchasing an additional 1,432 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in Northern Oil and Gas in the 4th quarter valued at approximately $43,000. Finally, EverSource Wealth Advisors LLC raised its position in Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company's stock valued at $43,000 after purchasing an additional 1,228 shares during the period. Hedge funds and other institutional investors own 98.80% of the company's stock.

About Northern Oil and Gas

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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