Bank of New York Mellon Corp Reduces Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Bank of New York Mellon Corp reduced its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,132,395 shares of the company's stock after selling 12,045 shares during the quarter. Bank of New York Mellon Corp owned about 1.13% of Northern Oil and Gas worth $42,080,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Northern Oil and Gas by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company's stock valued at $80,884,000 after buying an additional 100,761 shares in the last quarter. Copeland Capital Management LLC increased its holdings in Northern Oil and Gas by 0.9% during the 4th quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company's stock worth $78,590,000 after acquiring an additional 18,195 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Northern Oil and Gas by 1.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,381,285 shares of the company's stock worth $52,102,000 after acquiring an additional 21,754 shares during the period. New York State Common Retirement Fund increased its holdings in Northern Oil and Gas by 13.9% during the 4th quarter. New York State Common Retirement Fund now owns 1,071,966 shares of the company's stock worth $39,834,000 after acquiring an additional 130,979 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Northern Oil and Gas by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company's stock worth $34,902,000 after acquiring an additional 103,314 shares during the period. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of research firms recently weighed in on NOG. Royal Bank of Canada decreased their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating on the stock in a report on Thursday, February 13th. Piper Sandler decreased their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, January 29th. Mizuho lowered shares of Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 target price on the stock. in a report on Monday, December 16th. Truist Financial increased 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 report on Monday, January 13th. Finally, Capital One Financial lowered shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $46.89.

Northern Oil and Gas Trading Up 2.4 %

Shares of Northern Oil and Gas stock traded up $0.64 during trading on Friday, reaching $27.53. The company's stock had a trading volume of 2,094,112 shares, compared to its average volume of 1,676,173. Northern Oil and Gas, Inc. has a 52-week low of $26.59 and a 52-week high of $44.31. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 5.36 and a beta of 1.84. The firm's 50-day moving average is $36.12 and its two-hundred day moving average is $37.69. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02.

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). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The business had revenue of $545.47 million during the quarter, compared to analysts' expectations of $552.34 million. On average, sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid a $0.45 dividend. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.54%. Northern Oil and Gas's dividend payout ratio is 35.02%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now owns 96,223 shares of the company's stock, valued at $3,752,697. This represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bahram Akradi purchased 40,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the transaction, the director now directly owns 1,662,016 shares in the company, valued at $46,586,308.48. This trade represents a 2.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by corporate insiders.

About Northern Oil and Gas

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.