Charles Schwab Investment Management Inc. Buys 73,256 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Charles Schwab Investment Management Inc. lifted its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 7.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,058,899 shares of the company's stock after purchasing an additional 73,256 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.06% of Northern Oil and Gas worth $39,349,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in Northern Oil and Gas in the 3rd quarter worth approximately $25,000. Blue Trust Inc. increased its stake 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 purchasing an additional 801 shares during the period. Avior Wealth Management LLC raised its holdings in Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock valued at $51,000 after buying an additional 259 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Northern Oil and Gas during the 4th quarter valued at $66,000. Finally, Quarry LP grew its holdings in Northern Oil and Gas by 74.4% in the 3rd quarter. Quarry LP now owns 1,974 shares of the company's stock worth $70,000 after acquiring an additional 842 shares during the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Up 3.4 %

NYSE NOG traded up $1.02 during trading hours on Wednesday, reaching $30.95. 1,159,279 shares of the company's stock traded hands, compared to its average volume of 1,660,509. The firm has a market cap of $3.07 billion, a PE ratio of 6.01 and a beta of 1.84. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. Northern Oil and Gas, Inc. has a 52-week low of $26.59 and a 52-week high of $44.31. The firm has a 50-day simple moving average of $34.87 and a 200 day simple moving average of $37.16.

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Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued 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). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The company had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. Sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas declared that its board has authorized a stock buyback program on Tuesday, March 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board of directors 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. 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date is Friday, March 28th. Northern Oil and Gas's dividend payout ratio is currently 35.02%.

Insider Transactions 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 on Friday, March 7th. The stock was acquired at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the purchase, the chief executive officer now owns 226,189 shares in the company, valued at $6,215,673.72. This trade represents a 0.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Adam A. Dirlam sold 836 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares in the company, valued at approximately $3,752,697. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on NOG shares. Morgan Stanley set a $43.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, January 22nd. Mizuho cut Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price objective for the company. in a report on Monday, December 16th. Truist Financial boosted their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Piper Sandler dropped 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. Finally, Citigroup cut their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $46.89.

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.