Epiq Partners LLC Sells 12,537 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Epiq Partners LLC decreased its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 15.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,790 shares of the company's stock after selling 12,537 shares during the quarter. Northern Oil and Gas accounts for about 1.4% of Epiq Partners LLC's portfolio, making the stock its 22nd largest position. Epiq Partners LLC owned approximately 0.07% of Northern Oil and Gas worth $2,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Xponance Inc. increased its holdings in shares of Northern Oil and Gas by 18.4% in the second quarter. Xponance Inc. now owns 6,294 shares of the company's stock worth $234,000 after acquiring an additional 977 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Northern Oil and Gas by 10.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,288 shares of the company's stock worth $2,092,000 after buying an additional 5,192 shares during the period. Scientech Research LLC bought a new position in Northern Oil and Gas in the second quarter valued at approximately $254,000. Algert Global LLC acquired a new position in shares of Northern Oil and Gas in the second quarter valued at approximately $340,000. Finally, Creative Planning increased its position in shares of Northern Oil and Gas by 80.6% during the second quarter. Creative Planning now owns 23,712 shares of the company's stock worth $881,000 after acquiring an additional 10,580 shares in the last quarter. Institutional investors own 98.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NOG shares. Piper Sandler reduced their target price on shares of Northern Oil and Gas from $41.00 to $37.00 and set a "neutral" rating for the company in a research note on Tuesday, December 17th. Royal Bank of Canada reiterated a "sector perform" rating and set a $45.00 price objective on shares of Northern Oil and Gas in a report on Friday, January 10th. Truist Financial upped their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Jefferies Financial Group began coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They issued a "buy" rating and a $53.00 price objective on the stock. Finally, Mizuho downgraded shares of 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 report on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas currently has an average rating of "Hold" and a consensus target price of $47.78.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 836 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the sale, the president now directly owns 96,223 shares in the company, valued at $3,752,697. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 1,836 shares of company stock valued at $72,869. Company insiders own 2.80% of the company's stock.

Northern Oil and Gas Stock Performance

NYSE NOG traded up $0.08 during trading on Tuesday, reaching $37.34. 1,999,995 shares of the company's stock were exchanged, compared to its average volume of 1,435,711. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The business has a 50 day moving average price of $39.88 and a 200-day moving average price of $38.85. The stock has a market capitalization of $3.73 billion, a P/E ratio of 4.48 and a beta of 1.85. Northern Oil and Gas, Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The business had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. During the same period in the previous year, the firm earned $1.73 EPS. The firm's revenue was up 140.0% compared to the same quarter last year. Sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.34 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas's dividend payout ratio is presently 20.17%.

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.