King Luther Capital Management Corp Cuts Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

King Luther Capital Management Corp lessened its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 25.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,624 shares of the company's stock after selling 30,208 shares during the quarter. King Luther Capital Management Corp owned approximately 0.09% of Northern Oil and Gas worth $3,293,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Channing Capital Management LLC grew its position in shares of Northern Oil and Gas by 26.8% during the 4th quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company's stock worth $65,648,000 after buying an additional 373,917 shares in the last quarter. Isthmus Partners LLC grew its position in shares of Northern Oil and Gas by 0.9% during the 4th quarter. Isthmus Partners LLC now owns 48,354 shares of the company's stock worth $1,797,000 after buying an additional 411 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Northern Oil and Gas during the 4th quarter worth $1,215,000. PNC Financial Services Group Inc. grew its position in shares of Northern Oil and Gas by 9.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,482 shares of the company's stock worth $724,000 after buying an additional 1,637 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of Northern Oil and Gas by 3.6% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 24,046 shares of the company's stock worth $894,000 after buying an additional 845 shares in the last quarter. Institutional investors own 98.80% of the company's stock.

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Northern Oil and Gas Stock Up 3.8 %

NYSE NOG traded up $1.07 during trading on Friday, hitting $29.40. The company's stock had a trading volume of 1,245,324 shares, compared to its average volume of 1,360,696. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The company has a market cap of $2.91 billion, a PE ratio of 5.72 and a beta of 1.84. The business's 50 day simple moving average is $35.23 and its 200-day simple moving average is $37.32. Northern Oil and Gas, Inc. has a fifty-two week low of $26.60 and a fifty-two week high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. On average, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS 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. Investors of record on Friday, March 28th will be issued a dividend of $0.45 per share. This is an increase from Northern Oil and Gas's previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.12%. Northern Oil and Gas's payout ratio is 35.02%.

Northern Oil and Gas declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NOG shares. Truist Financial increased their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Mizuho cut Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price objective for the company. in a research note on Monday, December 16th. Piper Sandler decreased their price objective on 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. Capital One Financial cut Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada decreased their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating for the company in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $46.89.

Insider Buying and Selling

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

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.