Quantbot Technologies LP Grows Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Quantbot Technologies LP boosted its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 187.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,504 shares of the company's stock after purchasing an additional 84,392 shares during the quarter. Quantbot Technologies LP owned about 0.13% of Northern Oil and Gas worth $4,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Northern Oil and Gas in the fourth quarter worth $21,691,000. Channing Capital Management LLC raised its holdings in shares of Northern Oil and Gas by 26.8% in the 4th quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company's stock valued at $65,648,000 after acquiring an additional 373,917 shares in the last quarter. Bridgewater Associates LP boosted its position in shares of Northern Oil and Gas by 135.6% during the 3rd quarter. Bridgewater Associates LP now owns 511,170 shares of the company's stock valued at $18,101,000 after acquiring an additional 294,223 shares during the last quarter. Ninepoint Partners LP purchased a new position in shares of Northern Oil and Gas during the fourth quarter worth about $7,432,000. Finally, Jennison Associates LLC increased its position in shares of Northern Oil and Gas by 58.6% in the third quarter. Jennison Associates LLC now owns 521,115 shares of the company's stock worth $18,453,000 after purchasing an additional 192,539 shares during the last quarter. 98.80% of the stock is owned by institutional investors.

Remove Ads

Insider Activity at Northern Oil and Gas

In other 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 sale, the president now directly owns 96,223 shares in the company, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas L. O'grady bought 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $27.48 per share, with a total value of $27,480.00. Following the acquisition, the chief executive officer now owns 226,189 shares of the company's stock, valued at $6,215,673.72. This represents a 0.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on NOG. Piper Sandler dropped their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday, January 29th. Morgan Stanley set a $43.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, January 22nd. Truist Financial increased their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Mizuho lowered 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, Citigroup cut their price objective 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas has an average rating of "Hold" and an average price target of $46.89.

Northern Oil and Gas Trading Up 1.1 %

Northern Oil and Gas stock traded up $0.33 during trading hours on Wednesday, reaching $30.97. The company had a trading volume of 1,220,243 shares, compared to its average volume of 1,369,462. 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 12-month low of $26.60 and a 12-month high of $44.31. The company has a 50-day moving average price of $33.92 and a 200 day moving average price of $36.93. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 6.03 and a beta of 1.84.

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 analysts' consensus estimates of $1.27 by ($0.16). The firm had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. Equities analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Northern Oil and Gas Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 5.81%. Northern Oil and Gas's dividend payout ratio (DPR) is presently 35.02%.

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.