Copeland Capital Management LLC Purchases 18,195 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Copeland Capital Management LLC lifted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,114,909 shares of the company's stock after buying an additional 18,195 shares during the quarter. Northern Oil and Gas comprises 1.5% of Copeland Capital Management LLC's portfolio, making the stock its 17th biggest holding. Copeland Capital Management LLC owned about 2.12% of Northern Oil and Gas worth $78,590,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NOG. Geode Capital Management LLC grew its position in shares of Northern Oil and Gas by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company's stock worth $80,884,000 after buying an additional 100,761 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Northern Oil and Gas by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company's stock valued at $34,902,000 after purchasing an additional 103,314 shares during the period. New York State Common Retirement Fund increased its stake in Northern Oil and Gas by 41.4% in the third quarter. New York State Common Retirement Fund now owns 940,987 shares of the company's stock valued at $33,320,000 after purchasing an additional 275,704 shares in the last quarter. Emerald Advisers LLC raised its holdings in Northern Oil and Gas by 7.9% in the third quarter. Emerald Advisers LLC now owns 611,509 shares of the company's stock worth $21,654,000 after purchasing an additional 44,510 shares during the period. Finally, Tributary Capital Management LLC boosted its position in shares of Northern Oil and Gas by 11.8% during the fourth quarter. Tributary Capital Management LLC now owns 588,487 shares of the company's stock worth $21,868,000 after purchasing an additional 62,300 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NOG. Mizuho cut Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price objective on the stock. in a report on Monday, December 16th. Truist Financial increased their price target on shares of 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 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 report on Wednesday, January 29th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $45.00 price objective on shares of Northern Oil and Gas in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of "Hold" and a consensus target price of $47.56.

Northern Oil and Gas Price Performance

NOG stock traded down $0.62 during midday trading on Wednesday, reaching $36.22. The company had a trading volume of 681,022 shares, compared to its average volume of 1,368,526. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 4.36 and a beta of 1.82. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. Northern Oil and Gas, Inc. has a 1-year low of $31.65 and a 1-year high of $44.31. The stock has a 50 day moving average price of $39.20 and a 200-day moving average price of $38.67.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The company had revenue of $753.64 million during the quarter, compared to analysts' expectations of $540.23 million. During the same quarter in the previous year, the firm earned $1.73 EPS. Northern Oil and Gas's revenue was up 140.0% on a year-over-year basis. Equities research analysts expect that Northern Oil and Gas, Inc. will post 5.3 earnings per share for the current year.

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 given a dividend of $0.45 per share. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas's dividend payout ratio (DPR) is currently 20.17%.

Insider Buying and Selling

In other news, President Adam A. Dirlam sold 836 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now directly owns 96,223 shares of the company's stock, valued at $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.80% of the stock is owned by 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.