Ninepoint Partners LP Buys Shares of 200,000 Northern Oil and Gas, Inc. (NYSE:NOG)

Ninepoint Partners LP acquired a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 200,000 shares of the company's stock, valued at approximately $7,432,000. Northern Oil and Gas makes up about 1.1% of Ninepoint Partners LP's portfolio, making the stock its 16th largest holding. Ninepoint Partners LP owned approximately 0.20% of Northern Oil and Gas at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in Northern Oil and Gas during the third quarter worth $25,000. Blue Trust Inc. boosted its holdings in Northern Oil and Gas by 177.2% during the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock worth $44,000 after purchasing an additional 801 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Northern Oil and Gas by 23.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock worth $51,000 after purchasing an additional 259 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Northern Oil and Gas during the fourth quarter worth $66,000. Finally, Quarry LP boosted its holdings in Northern Oil and Gas by 74.4% during the third quarter. Quarry LP now owns 1,974 shares of the company's stock worth $70,000 after purchasing an additional 842 shares during the last quarter. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG traded up $0.10 during mid-day trading on Thursday, reaching $30.81. 1,248,641 shares of the company were exchanged, compared to its average volume of 1,361,536. The company's 50-day simple moving average is $34.69 and its 200-day simple moving average is $37.11. 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 stock has a market capitalization of $3.05 billion, a P/E ratio of 5.99 and a beta of 1.84. Northern Oil and Gas, Inc. has a twelve month low of $26.60 and a twelve month high of $44.31.

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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 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 business had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. As a group, research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas declared that its board has approved a stock repurchase plan 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 plans are generally an indication that the company's leadership believes its shares are 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 given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.84%. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas's dividend payout ratio (DPR) is currently 35.02%.

Insider Buying and Selling

In other Northern Oil and Gas news, CEO Nicholas L. O'grady purchased 1,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost 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 in the company, valued at $6,215,673.72. The trade was a 0.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Adam A. Dirlam sold 836 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the transaction, the president now directly owns 96,223 shares in the company, valued at approximately $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NOG has been the subject of several recent research reports. Morgan Stanley set a $43.00 target price on shares of Northern Oil and Gas in a report on Wednesday, January 22nd. Piper Sandler cut their price target on shares of 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. Citigroup cut 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 research note on Tuesday, February 25th. Mizuho cut shares of Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price target for the company. in a research note on Monday, December 16th. Finally, Capital One Financial cut shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 21st. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $46.89.

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.