Northern Oil and Gas, Inc. (NYSE:NOG) Shares Bought by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. increased its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 59.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,896 shares of the company's stock after purchasing an additional 36,887 shares during the quarter. EFG Asset Management North America Corp. owned 0.10% of Northern Oil and Gas worth $3,675,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. EntryPoint Capital LLC boosted its holdings in shares of Northern Oil and Gas by 43.0% in the 4th quarter. EntryPoint Capital LLC now owns 11,296 shares of the company's stock valued at $420,000 after acquiring an additional 3,398 shares during the last quarter. Vanguard Group Inc. lifted its position in Northern Oil and Gas by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company's stock valued at $418,916,000 after purchasing an additional 166,501 shares during the period. LPL Financial LLC boosted its holdings in Northern Oil and Gas by 7.7% in the fourth quarter. LPL Financial LLC now owns 64,769 shares of the company's stock valued at $2,407,000 after purchasing an additional 4,631 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Northern Oil and Gas during the 4th quarter worth about $739,000. Finally, AXQ Capital LP purchased a new position in shares of Northern Oil and Gas during the 4th quarter valued at about $286,000. Hedge funds and other institutional investors own 98.80% of the company's stock.

Insider Activity

In other news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the sale, the president now owns 96,223 shares of the company's stock, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 acquired 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 directly owns 226,189 shares of the company's stock, valued at $6,215,673.72. This trade 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.

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Northern Oil and Gas Price Performance

NOG traded down $0.64 on Friday, reaching $30.19. 1,270,696 shares of the company's stock were exchanged, compared to its average volume of 1,421,089. Northern Oil and Gas, Inc. has a twelve month low of $26.60 and a twelve month high of $44.31. The stock has a market cap of $2.99 billion, a PE ratio of 5.87 and a beta of 1.84. 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 stock's fifty day moving average price is $33.24 and its 200-day moving average price is $36.83.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The company had revenue of $545.47 million during the quarter, compared to analysts' expectations of $552.34 million. Sell-side analysts expect 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 stock repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be given a dividend of $0.45 per share. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 5.96%. Northern Oil and Gas's payout ratio is presently 35.02%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup lowered their target price on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Capital One Financial cut Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. Truist Financial raised their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the company a "buy" rating in a report on Monday, January 13th. Mizuho downgraded Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 target price for the company. in a research note on Monday, December 16th. Finally, Morgan Stanley decreased their target price on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $46.33.

About Northern Oil and Gas

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.