Northern Oil and Gas (NYSE:NOG) Director Bahram Akradi Acquires 25,760 Shares

Northern Oil and Gas, Inc. (NYSE:NOG) Director Bahram Akradi acquired 25,760 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were purchased at an average price of $19.40 per share, for a total transaction of $499,744.00. Following the completion of the transaction, the director directly owned 1,713,444 shares in the company, valued at approximately $33,240,813.60. This trade represents a 1.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Northern Oil and Gas Stock Up 0.4%

NOG opened at $19.49 on Thursday. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -3.06 and a beta of 0.68. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.53. The firm’s fifty day moving average is $23.23 and its 200 day moving average is $24.57. Northern Oil and Gas, Inc. has a fifty-two week low of $18.63 and a fifty-two week high of $31.28.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $5.03 million during the quarter, compared to analyst estimates 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%.Northern Oil and Gas’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.33 EPS. On average, sell-side analysts forecast 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, June 29th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.2%. Northern Oil and Gas’s dividend payout ratio is -28.26%.

Analyst Ratings Changes

A number of research firms recently commented on NOG. Weiss Ratings cut Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Raymond James Financial set a $30.00 price objective on shares of Northern Oil and Gas and gave the company an “outperform” rating in a report on Monday, June 15th. Citigroup reduced their price objective on shares of Northern Oil and Gas from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Wall Street Zen raised shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, Johnson Rice lowered shares of Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 target price for the company. in a research report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Hold” and an average target price of $32.38.

Institutional Investors Weigh In On Northern Oil and Gas

Several large investors have recently made changes to their positions in the company. Deprince Race & Zollo Inc. bought a new position in Northern Oil and Gas during the fourth quarter valued at approximately $25,492,000. First Trust Advisors LP increased its stake in Northern Oil and Gas by 116.8% in the 1st quarter. First Trust Advisors LP now owns 1,167,971 shares of the company’s stock worth $34,140,000 after acquiring an additional 629,197 shares during the last quarter. Bridgeway Capital Management LLC bought a new stake in Northern Oil and Gas in the 3rd quarter worth approximately $11,295,000. SG Americas Securities LLC increased its stake in Northern Oil and Gas by 499.9% in the 4th quarter. SG Americas Securities LLC now owns 421,809 shares of the company’s stock worth $9,056,000 after acquiring an additional 351,490 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Northern Oil and Gas during the 1st quarter worth approximately $8,115,000. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Company Profile

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.