Northern Oil and Gas, Inc. (NYSE:NOG) Stake Trimmed by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lowered its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 44.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 726,581 shares of the company's stock after selling 590,841 shares during the quarter. Loomis Sayles & Co. L P owned about 0.73% of Northern Oil and Gas worth $25,728,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co increased its stake in shares of Northern Oil and Gas by 2.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 76,259 shares of the company's stock worth $3,025,000 after buying an additional 1,867 shares during the last quarter. BOKF NA increased its position in shares of Northern Oil and Gas by 108.0% in the 1st quarter. BOKF NA now owns 6,643 shares of the company's stock worth $263,000 after purchasing an additional 3,449 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Northern Oil and Gas by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,720 shares of the company's stock valued at $2,053,000 after purchasing an additional 3,251 shares in the last quarter. Verity Asset Management Inc. bought a new position in shares of Northern Oil and Gas during the first quarter worth about $423,000. Finally, Boston Partners acquired a new position in Northern Oil and Gas in the first quarter worth about $885,000. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Performance

Shares of NOG traded up $0.33 during mid-day trading on Wednesday, reaching $43.46. 1,165,211 shares of the company's stock traded hands, compared to its average volume of 1,313,066. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $44.31. The stock has a market capitalization of $4.34 billion, a P/E ratio of 5.18 and a beta of 1.80. The business's 50-day moving average price is $38.59 and its 200-day moving average price is $38.58. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million during 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%. The firm's quarterly revenue was up 140.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 EPS. Equities analysts predict that Northern Oil and Gas, Inc. will post 5.42 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.87%. Northern Oil and Gas's dividend payout ratio (DPR) is 20.17%.

Analyst Ratings Changes

Several analysts have issued reports on NOG shares. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They set a "buy" rating and a $53.00 price objective on the stock. Piper Sandler raised their price objective on Northern Oil and Gas from $40.00 to $41.00 and gave the stock a "neutral" rating in a research note on Monday, November 18th. Truist Financial boosted their target price on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Morgan Stanley reduced their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Monday, September 16th. Finally, Mizuho started coverage on shares of Northern Oil and Gas in a research report on Thursday, September 19th. They set an "outperform" rating and a $47.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $47.50.

Insider Transactions at Northern Oil and Gas

In related news, 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 transaction of $96,558.00. Following the transaction, the president now directly owns 107,876 shares of the company's stock, valued at $4,153,226. The trade was 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 stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief financial officer now owns 83,792 shares in the company, valued at approximately $3,351,680. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,508 shares of company stock valued at $248,113. Company insiders own 2.80% of the company's stock.

Northern Oil and Gas 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.