Peregrine Capital Management LLC Sells 26,420 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Peregrine Capital Management LLC lowered its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 15.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 146,086 shares of the company's stock after selling 26,420 shares during the quarter. Peregrine Capital Management LLC owned about 0.15% of Northern Oil and Gas worth $5,429,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOG. CWM LLC grew its position in shares of Northern Oil and Gas by 24.8% during the 3rd quarter. CWM LLC now owns 2,237 shares of the company's stock worth $79,000 after purchasing an additional 444 shares in the last quarter. Creative Planning lifted its stake in Northern Oil and Gas by 18.1% during the third quarter. Creative Planning now owns 27,994 shares of the company's stock worth $991,000 after purchasing an additional 4,282 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Northern Oil and Gas in the 3rd quarter valued at $484,000. Copeland Capital Management LLC raised its holdings in shares of Northern Oil and Gas by 0.6% during the 3rd quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company's stock worth $74,245,000 after buying an additional 12,079 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company's stock worth $30,000 after buying an additional 427 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Wall Street Analyst Weigh In

NOG has been the subject of a number of research analyst reports. Capital One Financial cut Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday. Truist Financial lifted their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a "buy" rating in a report on Monday, January 13th. Royal Bank of Canada decreased their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating on the stock in a report on Thursday, February 13th. Mizuho cut 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, Piper Sandler dropped their price target on 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. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $47.00.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction that occurred 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 approximately $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.80% of the company's stock.

Northern Oil and Gas Trading Down 6.7 %

Shares of NYSE NOG traded down $2.38 during trading on Friday, reaching $33.01. The company had a trading volume of 2,751,072 shares, compared to its average volume of 1,432,546. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a 12 month low of $32.81 and a 12 month high of $44.31. The company's fifty day moving average price is $37.62 and its 200-day moving average price is $38.30. The stock has a market cap of $3.29 billion, a P/E ratio of 6.42 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings results 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). Northern Oil and Gas had a return on equity of 24.96% and a net margin of 23.38%. The firm had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. As a group, research analysts expect that Northern Oil and Gas, Inc. will post 5.25 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 5.45%. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's dividend payout ratio is 32.68%.

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.