Intech Investment Management LLC Makes New Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

Intech Investment Management LLC acquired a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,846 shares of the company's stock, valued at approximately $951,000.

Other hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its stake in shares of Northern Oil and Gas by 290.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 84,213 shares of the company's stock worth $3,130,000 after acquiring an additional 62,649 shares in the last quarter. Boston Partners purchased a new stake in shares of Northern Oil and Gas during the 1st quarter valued at $885,000. American Century Companies Inc. boosted its position in shares of Northern Oil and Gas by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company's stock worth $206,905,000 after purchasing an additional 552,645 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in Northern Oil and Gas by 18.5% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 453,414 shares of the company's stock worth $16,853,000 after buying an additional 70,709 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Northern Oil and Gas by 1,772.3% during the 2nd quarter. SG Americas Securities LLC now owns 116,045 shares of the company's stock valued at $4,313,000 after buying an additional 109,847 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NOG shares. StockNews.com lowered Northern Oil and Gas from a "hold" rating to a "sell" rating in a research note on Thursday, August 1st. Mizuho started coverage on shares of Northern Oil and Gas in a report on Thursday, September 19th. They set an "outperform" rating and a $47.00 price target on the stock. Piper Sandler raised their price objective on Northern Oil and Gas from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, November 18th. Royal Bank of Canada lowered shares of Northern Oil and Gas from an "outperform" rating to a "sector perform" rating and lifted their target price for the company from $43.00 to $45.00 in a research report on Wednesday, November 20th. Finally, Jefferies Financial Group assumed coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They set a "buy" rating and a $53.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Northern Oil and Gas presently has a consensus rating of "Moderate Buy" and an average price target of $47.50.

Insider Buying and Selling

In related news, CFO Chad W. Allen sold 1,500 shares of Northern Oil and Gas stock in a transaction on Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now directly owns 83,792 shares in the company, valued at $3,351,680. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the sale, the president now owns 107,876 shares in the company, valued at $4,153,226. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,508 shares of company stock worth $248,113 over the last 90 days. 2.80% of the stock is owned by insiders.

Northern Oil and Gas Trading Up 0.1 %

Northern Oil and Gas stock traded up $0.03 during mid-day trading on Friday, hitting $43.49. The company's stock had a trading volume of 599,399 shares, compared to its average volume of 1,309,977. The stock's fifty day moving average is $38.86 and its two-hundred day moving average is $38.65. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $4.34 billion, a PE ratio of 5.22 and a beta of 1.80. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million during the quarter, compared to analysts' expectations 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 for the quarter was up 140.0% on a year-over-year basis. During the same period last year, the business posted $1.73 EPS. On average, analysts anticipate 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. Stockholders of record on Monday, December 30th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas's dividend payout ratio (DPR) is presently 20.17%.

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.