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

Emerald Advisers LLC lessened its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 25.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 454,906 shares of the company's stock after selling 156,603 shares during the quarter. Emerald Advisers LLC owned about 0.46% of Northern Oil and Gas worth $16,904,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NOG. Icon Wealth Advisors LLC bought a new stake in Northern Oil and Gas during the third quarter valued at approximately $828,000. Smartleaf Asset Management LLC lifted its holdings in shares of Northern Oil and Gas by 297.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock worth $77,000 after acquiring an additional 1,570 shares during the last quarter. Principal Financial Group Inc. grew its position in Northern Oil and Gas by 2.5% in the fourth quarter. Principal Financial Group Inc. now owns 481,797 shares of the company's stock worth $17,904,000 after acquiring an additional 11,690 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Northern Oil and Gas by 36.1% in the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company's stock valued at $2,877,000 after acquiring an additional 20,550 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Northern Oil and Gas in the fourth quarter valued at $909,000. Hedge funds and other institutional investors own 98.80% of the company's stock.

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Northern Oil and Gas Trading Down 0.4 %

Shares of NOG traded down $0.12 during trading hours on Thursday, reaching $30.83. 1,322,308 shares of the company traded hands, compared to its average volume of 1,368,318. Northern Oil and Gas, Inc. has a 12 month low of $26.60 and a 12 month high of $44.31. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 6.00 and a beta of 1.84. The company's fifty day moving average price is $33.48 and its two-hundred day moving average price is $36.84. 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 (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 analysts' consensus estimates of $1.27 by ($0.16). The firm 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%. Equities research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

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

Northern Oil and Gas Increases Dividend

The firm also recently disclosed 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. This represents a $1.80 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date of this dividend is Friday, March 28th. 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 35.02%.

Insider Activity

In other Northern Oil and Gas news, Director Bahram Akradi acquired 40,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the transaction, the director now owns 1,662,016 shares of the company's stock, valued at $46,586,308.48. The trade was a 2.47 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Adam A. Dirlam sold 836 shares of the company'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 transaction, the president now directly owns 96,223 shares in the company, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

NOG has been the subject of a number of research reports. Capital One Financial cut Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. Truist Financial upped their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Citigroup reduced their price target on shares of 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. Piper Sandler lowered 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. Finally, Royal Bank of Canada reduced 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company 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.