Everence Capital Management Inc. Invests $484,000 in Northern Oil and Gas, Inc. (NYSE:NOG)

Everence Capital Management Inc. acquired a new position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,660 shares of the company's stock, valued at approximately $484,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Northern Oil and Gas by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company's stock valued at $392,480,000 after purchasing an additional 2,827,642 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Northern Oil and Gas by 45.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company's stock worth $93,744,000 after acquiring an additional 789,985 shares in the last quarter. American Century Companies Inc. increased its position in shares of Northern Oil and Gas by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company's stock worth $206,905,000 after purchasing an additional 552,645 shares during the last quarter. Capstone Investment Advisors LLC raised its stake in shares of Northern Oil and Gas by 8,679.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company's stock valued at $20,355,000 after purchasing an additional 507,129 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Northern Oil and Gas by 13.8% during the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company's stock worth $69,430,000 after purchasing an additional 212,030 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NOG. Royal Bank of Canada reissued an "outperform" rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. Piper Sandler reduced their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, August 15th. Jefferies Financial Group began coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They set a "buy" rating and a $53.00 target price for the company. Truist Financial dropped their target price on shares of Northern Oil and Gas from $55.00 to $44.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Finally, StockNews.com lowered shares of Northern Oil and Gas from a "hold" rating to a "sell" rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Northern Oil and Gas has an average rating of "Moderate Buy" and a consensus target price of $46.80.

Insider Activity at Northern Oil and Gas

In other news, insider Erik J. Romslo sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the sale, the insider now directly owns 105,713 shares of the company's stock, valued at approximately $3,727,440.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Erik J. Romslo sold 1,500 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the sale, the insider now owns 105,713 shares in the company, valued at $3,727,440.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,008 shares of company stock worth $228,013 in the last 90 days. Corporate insiders own 2.80% of the company's stock.

Northern Oil and Gas Stock Performance

NYSE NOG traded up $0.34 on Tuesday, hitting $37.67. The stock had a trading volume of 671,476 shares, compared to its average volume of 1,333,436. The company's 50-day moving average is $37.55 and its two-hundred day moving average is $38.98. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $43.80. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 6.11 and a beta of 1.81. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.91.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.26. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The business had revenue of $560.80 million during the quarter, compared to analyst estimates of $542.28 million. During the same period in the prior year, the company posted $1.49 EPS. The business's revenue for the quarter was up 17.7% compared to the same quarter last year. On average, analysts expect that Northern Oil and Gas, Inc. will post 5.29 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.42 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.68 annualized dividend and a yield of 4.46%. This is an increase from Northern Oil and Gas's previous quarterly dividend of $0.40. Northern Oil and Gas's dividend payout ratio is presently 27.23%.

Northern Oil and Gas Company 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.