Homestead Advisers Corp Lowers Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Homestead Advisers Corp lessened its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 15.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 130,800 shares of the company's stock after selling 24,000 shares during the quarter. Homestead Advisers Corp owned about 0.13% of Northern Oil and Gas worth $4,861,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Avior Wealth Management LLC boosted its stake 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 valued at $51,000 after acquiring an additional 259 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Northern Oil and Gas by 9.1% during the 4th quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company's stock worth $129,000 after buying an additional 289 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in Northern Oil and Gas by 2.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock worth $487,000 after buying an additional 298 shares during the last quarter. Legato Capital Management LLC increased its position in Northern Oil and Gas by 5.8% during the fourth quarter. Legato Capital Management LLC now owns 6,383 shares of the company's stock worth $237,000 after buying an additional 349 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Northern Oil and Gas by 21.0% in the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company's stock valued at $79,000 after buying an additional 368 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

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Analyst Ratings Changes

Several analysts recently commented on NOG shares. Piper Sandler reduced 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 report on Wednesday, January 29th. Citigroup decreased their target price on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Mizuho lowered 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. Capital One Financial cut 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 dropped their target price on 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 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $46.33.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, Director Bahram Akradi acquired 40,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the purchase, the director now directly owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. This trade represents a 2.47 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nicholas L. O'grady bought 1,000 shares of the stock in a transaction on Friday, March 7th. The shares were bought at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the acquisition, the chief executive officer now owns 226,189 shares in the company, valued at $6,215,673.72. The trade was a 0.44 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is owned by corporate insiders.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG traded up $0.57 on Monday, reaching $30.72. 388,325 shares of the company were exchanged, compared to its average volume of 1,628,100. The company has a 50-day moving average of $33.24 and a 200-day moving average of $36.85. 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 firm has a market cap of $3.04 billion, a price-to-earnings ratio of 5.98 and a beta of 1.84. Northern Oil and Gas, Inc. has a 1-year low of $26.59 and a 1-year high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued 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). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The company had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. Equities analysts forecast 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.86%. 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 payout ratio is presently 35.02%.

Northern Oil and Gas announced that its board has approved a share repurchase program on Tuesday, March 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

About Northern Oil and Gas

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.