Geode Capital Management LLC Increases Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Geode Capital Management LLC raised its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,283,777 shares of the company's stock after acquiring an additional 100,761 shares during the period. Geode Capital Management LLC owned 2.29% of Northern Oil and Gas worth $80,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in NOG. Legacy Investment Solutions LLC purchased a new position in shares of Northern Oil and Gas during the third quarter worth approximately $25,000. Signaturefd LLC boosted its stake in Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company's stock worth $30,000 after purchasing an additional 427 shares during the period. Quarry LP grew its position in Northern Oil and Gas by 338.8% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company's stock worth $42,000 after purchasing an additional 874 shares during the last quarter. GAMMA Investing LLC increased its stake in Northern Oil and Gas by 58.6% in the third quarter. GAMMA Investing LLC now owns 1,752 shares of the company's stock valued at $62,000 after purchasing an additional 647 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Northern Oil and Gas by 122.6% in the third quarter. Covestor Ltd now owns 1,903 shares of the company's stock valued at $67,000 after buying an additional 1,048 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

Insider Buying and Selling at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the sale, the president now owns 107,876 shares of the company's stock, valued at $4,153,226. This trade represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Chad W. Allen sold 1,500 shares of the business's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer now directly owns 83,792 shares of the company's stock, valued at $3,351,680. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,508 shares of company stock valued at $248,113 over the last quarter. Corporate insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NOG shares. Truist Financial raised their price target on Northern Oil and Gas from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Piper Sandler dropped their target price on Northern Oil and Gas from $41.00 to $37.00 and set a "neutral" rating on the stock in a report on Tuesday. Morgan Stanley decreased their price target on Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Royal Bank of Canada cut shares of Northern Oil and Gas from an "outperform" rating to a "sector perform" rating and boosted their price objective for the company from $43.00 to $45.00 in a research note on Wednesday, November 20th. Finally, Mizuho cut shares of Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 target price for the company. in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Northern Oil and Gas has a consensus rating of "Moderate Buy" and a consensus price target of $47.20.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG traded down $0.45 during trading on Friday, hitting $35.57. 4,749,902 shares of the stock were exchanged, compared to its average volume of 1,329,181. Northern Oil and Gas, Inc. has a 12-month low of $31.13 and a 12-month high of $44.31. The company has a market cap of $3.55 billion, a PE ratio of 4.27 and a beta of 1.85. The company has a fifty day moving average price of $39.69 and a two-hundred day moving average price of $38.68. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.20. The company had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. Northern Oil and Gas's revenue was up 140.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.73 earnings per share. On average, analysts forecast that Northern Oil and Gas, Inc. will post 5.4 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas's payout ratio is currently 20.17%.

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.