62,076 Shares in Northern Oil and Gas, Inc. (NYSE:NOG) Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC purchased a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 62,076 shares of the company's stock, valued at approximately $2,307,000. Northern Oil and Gas makes up 0.7% of Bryce Point Capital LLC's investment portfolio, making the stock its biggest position. Bryce Point Capital LLC owned approximately 0.06% of Northern Oil and Gas at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NOG. Legacy Investment Solutions LLC acquired a new stake in Northern Oil and Gas in the 3rd quarter worth about $25,000. Headlands Technologies LLC acquired a new stake in shares of Northern Oil and Gas in the fourth quarter worth approximately $29,000. Blue Trust Inc. increased its position in shares of Northern Oil and Gas by 177.2% during the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock worth $44,000 after purchasing an additional 801 shares in the last quarter. Avior Wealth Management LLC raised its stake 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 valued at $51,000 after purchasing an additional 259 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Northern Oil and Gas in the 4th quarter valued at $66,000. 98.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, CEO Nicholas L. O'grady bought 1,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost 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 in the company, valued at approximately $6,215,673.72. This represents a 0.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bahram Akradi purchased 40,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was acquired 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 owned by corporate insiders.

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Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup dropped their target price on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Piper Sandler dropped their price objective on shares of 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. Bank of America lowered 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. Capital One Financial cut Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. Finally, Morgan Stanley lowered their price objective on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $45.44.

Northern Oil and Gas Trading Down 5.5 %

Shares of NYSE NOG traded down $1.29 during mid-day trading on Monday, reaching $22.11. 1,135,269 shares of the company's stock were exchanged, compared to its average volume of 1,711,093. The company's 50-day moving average is $32.05 and its 200-day moving average is $36.60. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 4.31 and a beta of 1.49. Northern Oil and Gas, Inc. has a 52-week low of $21.61 and a 52-week high of $44.31.

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

Northern Oil and Gas announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Northern Oil and Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.14%. The ex-dividend date of this dividend is Friday, March 28th. This is an increase 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 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.