Bahram Akradi Buys 25,760 Shares of Northern Oil and Gas (NYSE:NOG) Stock

Northern Oil and Gas, Inc. (NYSE:NOG) Director Bahram Akradi purchased 25,760 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost 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 approximately $33,240,813.60. This represents a 1.53% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Northern Oil and Gas Trading Up 1.2%

NOG opened at $19.72 on Friday. Northern Oil and Gas, Inc. has a 12-month low of $18.63 and a 12-month high of $31.28. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $2.15 billion, a PE ratio of -3.10 and a beta of 0.68. The firm’s fifty day moving average price is $23.11 and its 200 day moving average price is $24.54.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. The company had revenue of $5.03 million during the quarter, compared to analyst estimates of $511.38 million. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the business earned $1.33 EPS. As a group, research analysts expect that Northern Oil and Gas, Inc. will post 3.42 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, June 29th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 9.1%. The ex-dividend date is Monday, June 29th. Northern Oil and Gas’s dividend payout ratio (DPR) is -28.26%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its position in Northern Oil and Gas by 55.1% in the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $1,233,000 after purchasing an additional 14,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Northern Oil and Gas by 3.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,334 shares of the company’s stock valued at $1,763,000 after buying an additional 1,865 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Northern Oil and Gas by 181.0% during 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. Empowered Funds LLC boosted its position in shares of Northern Oil and Gas by 5.0% during the first quarter. Empowered Funds LLC now owns 65,217 shares of the company’s stock worth $1,972,000 after buying an additional 3,124 shares during the period. Finally, Intech Investment Management LLC grew its holdings in Northern Oil and Gas by 41.8% in the 1st quarter. Intech Investment Management LLC now owns 46,453 shares of the company’s stock worth $1,404,000 after buying an additional 13,690 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on NOG. Wall Street Zen raised Northern Oil and Gas from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Johnson Rice downgraded Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 price target for the company. in a report on Wednesday, May 20th. Morgan Stanley reissued 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. Bank of America raised their price objective on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Finally, Raymond James Financial set a $30.00 price objective on shares of Northern Oil and Gas and gave the stock an “outperform” rating in a report on Monday, June 15th. 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 company’s stock. Based on data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Hold” and a consensus price target of $32.38.

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.