Entropy Technologies LP Buys 7,668 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Entropy Technologies LP increased its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 68.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,868 shares of the company's stock after acquiring an additional 7,668 shares during the quarter. Entropy Technologies LP's holdings in Northern Oil and Gas were worth $701,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NOG. abrdn plc bought a new stake in Northern Oil and Gas in the third quarter valued at $17,096,000. Bridgewater Associates LP grew its stake in shares of Northern Oil and Gas by 135.6% in the 3rd quarter. Bridgewater Associates LP now owns 511,170 shares of the company's stock valued at $18,101,000 after buying an additional 294,223 shares during the period. New York State Common Retirement Fund grew its stake in shares of Northern Oil and Gas by 41.4% in the 3rd quarter. New York State Common Retirement Fund now owns 940,987 shares of the company's stock valued at $33,320,000 after buying an additional 275,704 shares during the period. Jennison Associates LLC raised its stake in Northern Oil and Gas by 58.6% during the 3rd quarter. Jennison Associates LLC now owns 521,115 shares of the company's stock worth $18,453,000 after buying an additional 192,539 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Northern Oil and Gas by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company's stock worth $34,902,000 after buying an additional 103,314 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Insider Transactions at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now owns 96,223 shares in the company, valued at $3,752,697. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NOG. Mizuho downgraded Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price objective for the company. in a report on Monday, December 16th. Piper Sandler decreased their price target on shares of Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday, January 29th. Truist Financial raised their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada decreased their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Northern Oil and Gas presently has an average rating of "Hold" and an average target price of $47.00.

Northern Oil and Gas Stock Up 1.8 %

Northern Oil and Gas stock traded up $0.61 during midday trading on Friday, hitting $35.12. 1,307,240 shares of the stock were exchanged, compared to its average volume of 1,433,516. Northern Oil and Gas, Inc. has a 52-week low of $33.05 and a 52-week high of $44.31. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. The business's 50-day moving average price is $38.07 and its 200-day moving average price is $38.44. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 4.22 and a beta of 1.81.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be given a dividend of $0.45 per share. 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 5.13%. Northern Oil and Gas's dividend payout ratio (DPR) is currently 20.17%.

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.