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Northern Oil and Gas, Inc. (NYSE:NOG – Get Rating) CFO Chad W. Allen sold 2,358 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $38.16, for a total transaction of $89,981.28. Following the completion of the transaction, the chief financial officer now owns 47,029 shares in the company, valued at $1,794,626.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Northern Oil and Gas Price Performance
Northern Oil and Gas stock traded up $0.08 during midday trading on Tuesday, reaching $38.00. 2,614,313 shares of the stock were exchanged, compared to its average volume of 1,223,851. The company’s fifty day moving average is $32.16 and its 200-day moving average is $30.02. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $2.96 billion, a PE ratio of 4.36, a PEG ratio of 0.43 and a beta of 2.11. Northern Oil and Gas, Inc. has a 52 week low of $17.51 and a 52 week high of $39.10.
Northern Oil and Gas Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Thursday, December 29th will be issued a $0.30 dividend. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, December 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.16%. Northern Oil and Gas’s dividend payout ratio is presently 11.47%.
Hedge Funds Weigh In On Northern Oil and Gas
A number of institutional investors have recently made changes to their positions in NOG. Crewe Advisors LLC bought a new position in shares of Northern Oil and Gas in the 2nd quarter worth $25,000. Captrust Financial Advisors increased its holdings in shares of Northern Oil and Gas by 1,349.4% in the 2nd quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock worth $29,000 after buying an additional 1,066 shares during the last quarter. USA Financial Portformulas Corp bought a new position in shares of Northern Oil and Gas in the 3rd quarter worth $30,000. CWM LLC grew its holdings in shares of Northern Oil and Gas by 46.3% during the 3rd quarter. CWM LLC now owns 1,132 shares of the company’s stock valued at $31,000 after purchasing an additional 358 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Northern Oil and Gas by 42.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 996 shares of the company’s stock valued at $34,000 after purchasing an additional 296 shares during the last quarter. Institutional investors own 78.72% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on NOG shares. Piper Sandler boosted their target price on shares of Northern Oil and Gas from $51.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, October 18th. Bank of America upped their price target on shares of Northern Oil and Gas from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, September 19th. Northland Securities upped their price target on shares of Northern Oil and Gas from $50.00 to $60.00 in a research note on Monday. Raymond James upped their price target on shares of Northern Oil and Gas from $55.00 to $60.00 and gave the company a “strong-buy” rating in a research note on Monday, October 24th. Finally, TheStreet upgraded shares of Northern Oil and Gas from a “d” rating to a “b-” rating in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Moderate Buy” and a consensus price target of $48.30.
About Northern Oil and Gas
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Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.
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