Dimensional Fund Advisors LP Grows Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Dimensional Fund Advisors LP lifted its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 2.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,296,886 shares of the company's stock after purchasing an additional 68,631 shares during the quarter. Dimensional Fund Advisors LP owned about 3.30% of Northern Oil and Gas worth $122,507,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Northern Oil and Gas by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company's stock valued at $418,916,000 after buying an additional 166,501 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Northern Oil and Gas by 3.9% during the 4th quarter. American Century Companies Inc. now owns 6,537,596 shares of the company's stock valued at $242,937,000 after acquiring an additional 243,531 shares in the last quarter. Copeland Capital Management LLC boosted its position in Northern Oil and Gas by 0.9% during the 4th quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company's stock worth $78,590,000 after purchasing an additional 18,195 shares during the period. Channing Capital Management LLC increased its holdings in Northern Oil and Gas by 26.8% in the 4th quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company's stock valued at $65,648,000 after purchasing an additional 373,917 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Northern Oil and Gas by 1.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,381,285 shares of the company's stock valued at $52,102,000 after purchasing an additional 21,754 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Trading Up 1.6 %

Shares of NYSE NOG opened at $24.14 on Friday. The stock has a market capitalization of $2.39 billion, a P/E ratio of 4.70 and a beta of 1.49. The stock's 50 day moving average price is $27.64 and its two-hundred day moving average price is $34.92. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. On average, analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be issued a $0.45 dividend. The ex-dividend date is Friday, March 28th. 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 dividend yield of 7.46%. Northern Oil and Gas's payout ratio is 35.02%.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Bank of America lowered their target price on Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Citigroup lowered their price objective on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Truist Financial boosted 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 research report on Monday, January 13th. Morgan Stanley dropped their price target on shares of 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. Finally, Royal Bank of Canada decreased their price objective on shares of Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating for the company in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Northern Oil and Gas has a consensus rating of "Hold" and an average price target of $43.50.

Insider Activity at Northern Oil and Gas

In related news, CEO Nicholas L. O'grady bought 1,000 shares of the stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $27.48 per share, with a total value of $27,480.00. Following the completion of the acquisition, the chief executive officer now owns 226,189 shares of the company's stock, valued at $6,215,673.72. This trade represents a 0.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bahram Akradi purchased 40,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the acquisition, the director now owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. The trade was a 2.47 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.90% of the company's stock.

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.

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