Easterly Investment Partners LLC Boosts Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Easterly Investment Partners LLC raised its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 59.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,506 shares of the company's stock after buying an additional 29,905 shares during the period. Easterly Investment Partners LLC owned about 0.08% of Northern Oil and Gas worth $2,992,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in Northern Oil and Gas during the 3rd quarter worth about $25,000. Blue Trust Inc. lifted its position in shares of Northern Oil and Gas by 177.2% during the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock worth $44,000 after purchasing an additional 801 shares in the last quarter. Avior Wealth Management LLC boosted its stake in shares of Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock valued at $51,000 after purchasing an additional 259 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Northern Oil and Gas in the fourth quarter valued at approximately $66,000. Finally, Quarry LP increased its stake in Northern Oil and Gas by 74.4% during the 3rd quarter. Quarry LP now owns 1,974 shares of the company's stock worth $70,000 after buying an additional 842 shares during the period. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the transaction, the president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas L. O'grady bought 1,000 shares of Northern Oil and Gas stock in a transaction dated Friday, March 7th. The stock was purchased 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 directly owns 226,189 shares in the company, valued at approximately $6,215,673.72. The trade was a 0.44 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.80% of the company's stock.

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Northern Oil and Gas Stock Up 1.3 %

Shares of NYSE:NOG traded up $0.40 on Monday, hitting $30.55. 461,061 shares of the company's stock were exchanged, compared to its average volume of 1,417,464. Northern Oil and Gas, Inc. has a 1-year low of $26.60 and a 1-year high of $44.31. The company has a market capitalization of $3.03 billion, a PE ratio of 5.95 and a beta of 1.84. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The firm's 50-day moving average is $33.24 and its 200 day moving average is $36.85.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted 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 business had revenue of $545.47 million for the quarter, compared to analysts' expectations of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. Sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas declared that its board has approved a share repurchase plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

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 $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.89%. This is an increase from Northern Oil and Gas's previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. Northern Oil and Gas's dividend payout ratio (DPR) is 35.02%.

Wall Street Analyst Weigh In

Several equities analysts have commented on NOG shares. 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 report on Monday, December 16th. Truist Financial lifted their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the company a "buy" rating in a report on Monday, January 13th. Citigroup cut their price target on 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. Capital One Financial lowered Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Finally, Royal Bank of Canada lowered their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Northern Oil and Gas presently has a consensus rating of "Hold" and an average price target of $46.33.

Northern Oil and Gas Company Profile

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.