Cibc World Markets Corp Invests $345,000 in Northern Oil and Gas, Inc. (NYSE:NOG)

Cibc World Markets Corp bought a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,283 shares of the company's stock, valued at approximately $345,000.

Several other large investors have also recently modified their holdings of NOG. Ninepoint Partners LP bought a new stake in Northern Oil and Gas during the fourth quarter valued at $7,432,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Northern Oil and Gas by 7.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,377 shares of the company's stock valued at $386,000 after acquiring an additional 764 shares during the last quarter. Midwest Professional Planners LTD. grew its holdings in shares of Northern Oil and Gas by 9.1% during the fourth quarter. Midwest Professional Planners LTD. now owns 34,159 shares of the company's stock worth $1,269,000 after purchasing an additional 2,853 shares in the last quarter. 12th Street Asset Management Company LLC increased its position in shares of Northern Oil and Gas by 1.7% in the fourth quarter. 12th Street Asset Management Company LLC now owns 432,191 shares of the company's stock worth $16,060,000 after purchasing an additional 7,253 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Northern Oil and Gas by 5.3% in the fourth quarter. Swiss National Bank now owns 187,100 shares of the company's stock worth $6,953,000 after purchasing an additional 9,500 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

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Northern Oil and Gas Trading Down 2.1 %

NYSE:NOG traded down $0.64 during trading hours on Friday, hitting $30.19. The company had a trading volume of 1,270,696 shares, compared to its average volume of 1,420,582. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The stock has a 50-day moving average price of $33.48 and a 200 day moving average price of $36.84. The company has a market capitalization of $2.99 billion, a PE ratio of 5.87 and a beta of 1.84. Northern Oil and Gas, Inc. has a 52 week low of $26.60 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 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 company had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. On average, equities research analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 5.96%. 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 is currently 35.02%.

Northern Oil and Gas announced that its board has authorized a share repurchase plan on Tuesday, March 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NOG has been the subject of a number of research reports. Mizuho cut shares of Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price target for the company. in a research note on Monday, December 16th. Capital One Financial lowered shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Morgan Stanley lowered their price target on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Thursday. Truist Financial lifted their price target on 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, Citigroup reduced their price objective on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $46.33.

Insider Activity

In related news, CEO Nicholas L. O'grady purchased 1,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the purchase, the chief executive officer now directly owns 226,189 shares of the company's stock, valued at approximately $6,215,673.72. This represents a 0.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Adam A. Dirlam sold 836 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the transaction, the president now directly owns 96,223 shares of the company's stock, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company 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.