Northern Oil and Gas, Inc. (NYSE:NOG) Stake Lessened by Emerald Advisers LLC

Emerald Advisers LLC reduced its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 25.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 454,906 shares of the company's stock after selling 156,603 shares during the quarter. Emerald Advisers LLC owned approximately 0.46% of Northern Oil and Gas worth $16,904,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avior Wealth Management LLC increased its position in 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 worth $51,000 after buying an additional 259 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Northern Oil and Gas by 9.1% in the 4th quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company's stock worth $129,000 after acquiring an additional 289 shares during the period. Avantax Advisory Services Inc. lifted its position in Northern Oil and Gas by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock valued at $487,000 after purchasing an additional 298 shares during the last quarter. Legato Capital Management LLC boosted its stake 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 valued at $237,000 after purchasing an additional 349 shares during the period. Finally, GAMMA Investing LLC boosted its stake 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 valued at $79,000 after purchasing an additional 368 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

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Northern Oil and Gas Price Performance

NYSE:NOG traded down $0.24 during mid-day trading on Tuesday, reaching $30.70. 775,528 shares of the stock were exchanged, compared to its average volume of 1,370,725. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The business has a fifty day moving average price of $34.13 and a 200 day moving average price of $36.96. Northern Oil and Gas, Inc. has a 1-year low of $26.60 and a 1-year high of $44.31. The firm has a market capitalization of $3.04 billion, a PE ratio of 5.97 and a beta of 1.84.

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 business had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. Research analysts expect 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be issued a $0.45 dividend. The ex-dividend date is Friday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 5.86%. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's dividend payout ratio is currently 35.02%.

Northern Oil and Gas announced that its board has initiated a share buyback plan on Tuesday, March 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NOG shares. Mizuho cut 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. Citigroup lowered their target price on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Morgan Stanley set a $43.00 price target on Northern Oil and Gas in a research report on Wednesday, January 22nd. Piper Sandler lowered their price target on Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, January 29th. Finally, Royal Bank of Canada cut their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 13th. One 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 company has an average rating of "Hold" and an average price target of $46.89.

Insider Activity

In related news, CEO Nicholas L. O'grady purchased 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, for a total transaction of $27,480.00. Following the transaction, the chief executive officer now directly owns 226,189 shares of the company's stock, valued at $6,215,673.72. This trade represents a 0.44 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Adam A. Dirlam sold 836 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the sale, the president now owns 96,223 shares in the company, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.80% of the company's stock.

Northern Oil and Gas 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.