Alliancebernstein L.P. Has $130.07 Million Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Alliancebernstein L.P. decreased its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,500,253 shares of the company's stock after selling 86,373 shares during the quarter. Alliancebernstein L.P. owned 3.51% of Northern Oil and Gas worth $130,069,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOG. Avior Wealth Management LLC lifted its holdings in shares of Northern Oil and Gas by 23.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock valued at $51,000 after acquiring an additional 259 shares during the period. First Horizon Advisors Inc. increased its position in shares of Northern Oil and Gas by 9.1% during the 4th quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company's stock worth $129,000 after purchasing an additional 289 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in Northern Oil and Gas by 2.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock valued at $487,000 after purchasing an additional 298 shares during the last quarter. Legato Capital Management LLC boosted its position in Northern Oil and Gas by 5.8% in the fourth quarter. Legato Capital Management LLC now owns 6,383 shares of the company's stock valued at $237,000 after buying an additional 349 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Northern Oil and Gas by 21.0% during the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company's stock worth $79,000 after buying an additional 368 shares during the last quarter. 98.80% of the stock is owned by institutional investors.

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Northern Oil and Gas Trading Down 3.9 %

Shares of NYSE NOG traded down $0.90 during mid-day trading on Monday, hitting $22.50. The company's stock had a trading volume of 3,971,014 shares, compared to its average volume of 1,454,820. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 4.38 and a beta of 1.49. The company's fifty day simple moving average is $31.75 and its 200-day simple moving average is $36.50. Northern Oil and Gas, Inc. has a one year low of $21.62 and a one year high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.16). The business had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. On average, sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.00%. Northern Oil and Gas's payout ratio is 35.02%.

Insider Buying and Selling at Northern Oil and Gas

In other news, CEO Nicholas L. O'grady acquired 1,000 shares of Northern Oil and Gas stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $27.48 per share, with a total value of $27,480.00. Following the purchase, the chief executive officer now directly owns 226,189 shares of the company's stock, valued at $6,215,673.72. The trade was a 0.44 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bahram Akradi bought 40,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the purchase, the director now directly owns 1,662,016 shares of the company's stock, valued at approximately $46,586,308.48. This represents a 2.47 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on NOG shares. Morgan Stanley reduced their target price on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Bank of America decreased their target price on Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Piper Sandler lowered their target price on Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday, January 29th. Truist Financial upped their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, Citigroup lowered their price objective on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Northern Oil and Gas currently has an average rating of "Hold" and a consensus target price of $45.44.

Northern Oil and Gas Profile

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. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.