Dynamic Technology Lab Private Ltd Takes Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Dynamic Technology Lab Private Ltd acquired a new position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 33,245 shares of the company's stock, valued at approximately $1,235,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted 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 purchasing an additional 166,501 shares during the last quarter. American Century Companies Inc. increased its holdings in Northern Oil and Gas by 3.9% in the fourth quarter. American Century Companies Inc. now owns 6,537,596 shares of the company's stock worth $242,937,000 after buying an additional 243,531 shares during the last quarter. Geode Capital Management LLC raised its position in Northern Oil and Gas by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company's stock valued at $80,884,000 after acquiring an additional 100,761 shares in the last quarter. Copeland Capital Management LLC grew its position in Northern Oil and Gas by 0.9% in the fourth quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company's stock worth $78,590,000 after acquiring an additional 18,195 shares in the last quarter. Finally, Channing Capital Management LLC increased its stake in shares of Northern Oil and Gas by 26.8% during the 4th quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company's stock worth $65,648,000 after purchasing an additional 373,917 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

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Insiders Place Their Bets

In other Northern Oil and Gas news, Director Bahram Akradi purchased 40,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the transaction, the director now directly owns 1,662,016 shares in the company, valued at $46,586,308.48. This trade represents a 2.47 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas L. O'grady acquired 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $27.48 per share, with a total value of $27,480.00. Following the completion of the transaction, the chief executive officer now directly owns 226,189 shares in the company, valued at $6,215,673.72. This trade represents a 0.44 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.80% of the company's stock.

Northern Oil and Gas Trading Down 0.6 %

Shares of Northern Oil and Gas stock traded down $0.12 on Friday, hitting $21.60. 546,806 shares of the company's stock traded hands, compared to its average volume of 1,473,207. The firm's 50-day moving average price is $30.32 and its two-hundred day moving average price is $36.00. 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 market capitalization of $2.14 billion, a PE ratio of 4.20 and a beta of 1.49. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31.

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). The company had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. On average, research analysts expect 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 plan on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.33%. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's dividend payout ratio is presently 35.02%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley lowered their price objective on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Mizuho downgraded Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price target on the stock. in a report on Monday, December 16th. Piper Sandler decreased their price objective on shares of 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. 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, February 25th. Finally, Capital One Financial cut shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $45.44.

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.