Natixis Advisors LLC Sells 15,176 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Natixis Advisors LLC decreased its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,539 shares of the company's stock after selling 15,176 shares during the quarter. Natixis Advisors LLC owned approximately 0.08% of Northern Oil and Gas worth $2,807,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Midwest Professional Planners LTD. increased its stake in shares of Northern Oil and Gas by 9.1% in the 4th quarter. Midwest Professional Planners LTD. now owns 34,159 shares of the company's stock worth $1,269,000 after acquiring an additional 2,853 shares in the last quarter. 12th Street Asset Management Company LLC increased its stake in shares of Northern Oil and Gas by 1.7% during the fourth quarter. 12th Street Asset Management Company LLC now owns 432,191 shares of the company's stock valued at $16,060,000 after purchasing an additional 7,253 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Northern Oil and Gas by 5.3% during the fourth quarter. Swiss National Bank now owns 187,100 shares of the company's stock valued at $6,953,000 after purchasing an additional 9,500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Northern Oil and Gas in the 4th quarter worth approximately $1,676,000. Finally, Avantax Advisory Services Inc. boosted its position in shares of Northern Oil and Gas by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock worth $487,000 after purchasing an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

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Northern Oil and Gas Stock Performance

Shares of NOG stock traded down $0.12 during trading hours on Thursday, reaching $30.83. The company had a trading volume of 1,322,308 shares, compared to its average volume of 1,368,992. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The business has a fifty day moving average price of $33.70 and a 200-day moving average price of $36.89. Northern Oil and Gas, Inc. has a one year low of $26.60 and a one year high of $44.31. The firm has a market cap of $3.06 billion, a PE ratio of 6.00 and a beta of 1.84.

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 (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.16). The company had revenue of $545.47 million during the quarter, compared to analysts' expectations of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. Sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 5.84%. 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 presently 35.02%.

Northern Oil and Gas announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NOG. Citigroup reduced their price objective on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Mizuho downgraded Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price target for the company. in a report on Monday, December 16th. Piper Sandler dropped their price target on shares of Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 29th. Capital One Financial lowered shares of 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 target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating for the company 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas presently has an average rating of "Hold" and a consensus target price of $46.33.

Insider Activity at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the firm's stock in a transaction that occurred on 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 owns 96,223 shares of the company's stock, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bahram Akradi bought 40,000 shares of Northern Oil and Gas stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the acquisition, the director now owns 1,662,016 shares of the company's stock, valued at $46,586,308.48. The trade was a 2.47 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is owned by company insiders.

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.