Denali Advisors LLC Makes New $2.72 Million Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

Denali Advisors LLC purchased a new stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 73,087 shares of the company's stock, valued at approximately $2,716,000. Denali Advisors LLC owned 0.07% of Northern Oil and Gas at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Avior Wealth Management LLC raised its position in shares of 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 acquiring an additional 259 shares during the period. First Horizon Advisors Inc. raised its holdings in Northern Oil and Gas by 9.1% during the 4th quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company's stock worth $129,000 after buying an additional 289 shares during the period. Legato Capital Management LLC raised its holdings in Northern Oil and Gas by 5.8% during the 4th quarter. Legato Capital Management LLC now owns 6,383 shares of the company's stock worth $237,000 after buying an additional 349 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Northern Oil and Gas by 1.5% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,201 shares of the company's stock worth $822,000 after buying an additional 350 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Northern Oil and Gas by 21.0% during the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company's stock worth $79,000 after buying an additional 368 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Down 1.4 %

Shares of NOG traded down $0.45 during mid-day trading on Friday, hitting $31.47. 1,914,041 shares of the company's stock were exchanged, compared to its average volume of 1,483,275. Northern Oil and Gas, Inc. has a 52 week low of $31.16 and a 52 week high of $44.31. 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 company has a 50-day simple moving average of $36.96 and a 200 day simple moving average of $38.08. The company has a market cap of $3.12 billion, a PE ratio of 6.12 and a beta of 1.82.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released 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). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The firm had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. On average, research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share 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. Investors of record on Friday, March 28th will be paid a $0.45 dividend. The ex-dividend date is Friday, March 28th. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 5.72%. Northern Oil and Gas's dividend payout ratio (DPR) is currently 35.02%.

Insider Activity at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the firm's stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented 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 on the stock in a report on Tuesday. Mizuho downgraded shares of Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 target price on the stock. in a report on Monday, December 16th. Royal Bank of Canada dropped their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating on the stock in a report on Thursday, February 13th. Capital One Financial downgraded shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. Finally, Truist Financial raised their target price on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, January 13th. 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $46.89.

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.