Northern Oil and Gas, Inc. (NYSE:NOG) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 395,584 shares of the company's stock after buying an additional 33,948 shares during the period. Envestnet Asset Management Inc. owned 0.40% of Northern Oil and Gas worth $14,700,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NOG. Headlands Technologies LLC purchased a new stake in Northern Oil and Gas in the fourth quarter valued at approximately $29,000. Blue Trust Inc. raised its position in Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock valued at $44,000 after purchasing an additional 801 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Northern Oil and Gas by 23.3% during the 4th 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 period. SBI Securities Co. Ltd. purchased a new position in Northern Oil and Gas during the 4th quarter worth $66,000. Finally, Smartleaf Asset Management LLC increased its stake in Northern Oil and Gas by 297.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock valued at $77,000 after purchasing an additional 1,570 shares during the period. 98.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NOG has been the subject of several recent research reports. Bank of America decreased their target price on shares of Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Morgan Stanley dropped 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 report on Thursday, March 27th. Citigroup decreased their price target on 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. 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. Finally, Royal Bank of Canada reduced their target price on shares of Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating for the company in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $44.78.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock traded up $0.50 during mid-day trading on Tuesday, reaching $23.59. The company had a trading volume of 1,438,370 shares, compared to its average volume of 1,484,526. The stock's 50-day simple moving average is $28.32 and its 200-day simple moving average is $35.25. The company has a market capitalization of $2.33 billion, a P/E ratio of 4.59 and a beta of 1.49. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. Northern Oil and Gas, Inc. has a 1 year low of $19.88 and a 1 year high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. On average, equities analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 7.63%. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. Northern Oil and Gas's dividend payout ratio is presently 35.02%.

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 buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Northern Oil and Gas

In other news, CEO Nicholas L. O'grady bought 1,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $27.48 per share, with a total value of $27,480.00. Following the purchase, the chief executive officer now 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 acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bahram Akradi purchased 40,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the completion of the purchase, the director now directly owns 1,662,016 shares in the company, valued at $46,586,308.48. The trade was a 2.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by 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.