Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. reduced its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 86.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,460 shares of the company's stock after selling 132,184 shares during the period. Phocas Financial Corp.'s holdings in Northern Oil and Gas were worth $797,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Icon Wealth Advisors LLC acquired a new stake in shares of Northern Oil and Gas during the third quarter valued at about $828,000. State of Alaska Department of Revenue increased its position in shares of Northern Oil and Gas by 36.1% during the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company's stock valued at $2,877,000 after acquiring an additional 20,550 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Northern Oil and Gas by 2.5% during the fourth quarter. Principal Financial Group Inc. now owns 481,797 shares of the company's stock valued at $17,904,000 after acquiring an additional 11,690 shares during the last quarter. James Investment Research Inc. acquired a new stake in shares of Northern Oil and Gas during the fourth quarter valued at about $393,000. Finally, Heritage Family Offices LLP acquired a new stake in shares of Northern Oil and Gas during the fourth quarter valued at about $244,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, President Adam A. Dirlam sold 836 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares in the company, valued at approximately $3,752,697. This represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.80% of the company's stock.

Northern Oil and Gas Stock Down 1.4 %

NYSE NOG traded down $0.45 on Friday, hitting $31.47. 1,914,041 shares of the stock were exchanged, compared to its average volume of 1,483,275. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a fifty-two week low of $31.16 and a fifty-two week high of $44.31. The company has a market cap of $3.12 billion, a PE ratio of 6.12 and a beta of 1.82. The company has a 50-day moving average price of $36.96 and a 200-day moving average price of $38.08.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The firm had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. Sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal 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 issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.72%. The ex-dividend date is Friday, March 28th. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's payout ratio is 35.02%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NOG. 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 research report on Monday, January 13th. Citigroup dropped their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday. Capital One Financial lowered shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 21st. Piper Sandler lowered their price objective on shares of 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. Finally, Mizuho lowered shares of Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price objective for the company. in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $46.89.

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.