KLP Kapitalforvaltning AS Takes $739,000 Position in Northern Oil and Gas, Inc. (NYSE:NOG)

KLP Kapitalforvaltning AS bought a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,700 shares of the company's stock, valued at approximately $739,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. AXQ Capital LP purchased a new position in shares of Northern Oil and Gas in the 4th quarter worth approximately $286,000. American Century Companies Inc. increased its position in shares of Northern Oil and Gas by 3.9% during the fourth quarter. American Century Companies Inc. now owns 6,537,596 shares of the company's stock worth $242,937,000 after purchasing an additional 243,531 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Northern Oil and Gas during the 4th quarter valued at $601,000. Quantbot Technologies LP boosted its position in shares of Northern Oil and Gas by 187.1% in the 4th quarter. Quantbot Technologies LP now owns 129,504 shares of the company's stock worth $4,812,000 after purchasing an additional 84,392 shares in the last quarter. Finally, Sciencast Management LP purchased a new position in Northern Oil and Gas during the 4th quarter worth $851,000. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Stock Performance

Shares of NYSE:NOG traded down $4.60 during trading on Thursday, hitting $26.01. 2,645,308 shares of the stock traded hands, compared to its average volume of 1,428,919. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. The company has a fifty day moving average price of $32.61 and a two-hundred day moving average price of $36.75. Northern Oil and Gas, Inc. has a 52-week low of $25.96 and a 52-week high of $44.31. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 5.06 and a beta of 1.84.

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Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.16). The firm had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. As a group, equities analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas announced that its Board of Directors has initiated a share buyback program on Tuesday, March 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its stock is undervalued.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.92%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's payout ratio is currently 35.02%.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 836 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the transaction, the president now directly owns 96,223 shares of the company's stock, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas L. O'grady acquired 1,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the completion of 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 currently owned by insiders.

Wall Street Analyst Weigh In

NOG has been the subject of a number of research analyst reports. Morgan Stanley decreased their price target on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Truist Financial lifted their target price on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Citigroup decreased their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Bank of America cut their target price on Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Royal Bank of Canada lowered their price target on 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, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Northern Oil and Gas currently has an average rating of "Hold" and an average price target of $45.44.

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.