Bridgewater Associates LP Sells 174,650 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Bridgewater Associates LP cut its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 34.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,520 shares of the company's stock after selling 174,650 shares during the quarter. Bridgewater Associates LP owned 0.34% of Northern Oil and Gas worth $12,505,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NOG. Headlands Technologies LLC bought a new position in shares of Northern Oil and Gas during the fourth quarter valued at $29,000. Blue Trust Inc. increased its holdings in Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock worth $44,000 after buying an additional 801 shares in the last quarter. Avior Wealth Management LLC raised its position in Northern Oil and Gas by 23.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock worth $51,000 after buying an additional 259 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Northern Oil and Gas during the 4th quarter valued at about $66,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Northern Oil and Gas by 297.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock worth $77,000 after acquiring an additional 1,570 shares during the period. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Price Performance

NYSE NOG traded up $0.52 on Tuesday, reaching $23.61. The company had a trading volume of 241,733 shares, compared to its average volume of 1,481,708. The firm's 50 day moving average price is $28.54 and its 200 day moving average price is $35.33. Northern Oil and Gas, Inc. has a 12 month low of $19.88 and a 12 month high of $44.31. The stock has a market capitalization of $2.33 billion, a PE ratio of 4.60 and a beta of 1.49. 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 results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.16). The firm had revenue of $545.47 million for 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%. As a group, equities analysts predict 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. Shareholders of record on Friday, March 28th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, March 28th. This represents a $1.80 annualized dividend and a yield of 7.62%. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's dividend payout ratio (DPR) is 35.02%.

Northern Oil and Gas declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows 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 stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NOG. Morgan Stanley dropped their target price on shares of 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 reduced their price objective on Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Piper Sandler cut their price target 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 increased their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada dropped their price objective on shares of Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $44.78.

Insider Activity at Northern Oil and Gas

In other news, CEO Nicholas L. O'grady bought 1,000 shares of the stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the acquisition, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bahram Akradi acquired 40,000 shares of Northern Oil and Gas stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the completion of 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 owned by insiders.

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.