Bridgewater Associates LP Has $18.10 Million Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Bridgewater Associates LP raised its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 135.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 511,170 shares of the company's stock after purchasing an additional 294,223 shares during the quarter. Bridgewater Associates LP owned approximately 0.51% of Northern Oil and Gas worth $18,101,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in Northern Oil and Gas by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,720 shares of the company's stock worth $2,053,000 after acquiring an additional 3,251 shares during the last quarter. Verity Asset Management Inc. acquired a new stake in Northern Oil and Gas in the 1st quarter worth about $423,000. Boston Partners bought a new stake in Northern Oil and Gas in the 1st quarter valued at about $885,000. GAMMA Investing LLC grew its position in shares of Northern Oil and Gas by 91.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company's stock worth $41,000 after purchasing an additional 528 shares in the last quarter. Finally, Insight Wealth Strategies LLC increased its holdings in shares of Northern Oil and Gas by 2.7% during the second quarter. Insight Wealth Strategies LLC now owns 27,197 shares of the company's stock worth $1,011,000 after purchasing an additional 717 shares during the period. Institutional investors own 98.80% of the company's stock.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the company's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the sale, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. The trade was a 2.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Chad W. Allen sold 1,500 shares of the firm's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $40.00, for a total value of $60,000.00. Following the transaction, the chief financial officer now owns 83,792 shares of the company's stock, valued at $3,351,680. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,508 shares of company stock worth $248,113 in the last quarter. 2.80% of the stock is owned by insiders.

Analyst Ratings Changes

NOG has been the subject of a number of recent analyst reports. Jefferies Financial Group began coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They set a "buy" rating and a $53.00 target price for the company. StockNews.com downgraded shares of Northern Oil and Gas from a "hold" rating to a "sell" rating in a research note on Thursday, August 1st. Royal Bank of Canada lowered shares of Northern Oil and Gas from an "outperform" rating to a "sector perform" rating and raised their target price for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. Morgan Stanley cut their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Finally, Piper Sandler lifted their price objective on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a "neutral" rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Northern Oil and Gas presently has a consensus rating of "Moderate Buy" and an average target price of $47.50.

Northern Oil and Gas Price Performance

Shares of NYSE NOG traded up $0.33 during midday trading on Thursday, reaching $43.46. 1,165,219 shares of the company were exchanged, compared to its average volume of 1,313,066. The stock's 50-day moving average price is $38.86 and its 200-day moving average price is $38.65. The stock has a market cap of $4.34 billion, a P/E ratio of 5.22 and a beta of 1.80. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.20. The business had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. Northern Oil and Gas's quarterly revenue was up 140.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 EPS. On average, sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.42 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas's dividend payout ratio is currently 20.17%.

Northern Oil and Gas Company 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.