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

Quantbot Technologies LP lifted its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 187.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,504 shares of the company's stock after buying an additional 84,392 shares during the period. Quantbot Technologies LP owned about 0.13% of Northern Oil and Gas worth $4,812,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Northern Oil and Gas in the 3rd quarter valued at $25,000. Blue Trust Inc. increased its stake in Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock valued at $44,000 after purchasing an additional 801 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Northern Oil and Gas by 23.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock worth $51,000 after acquiring an additional 259 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Northern Oil and Gas in the fourth quarter worth about $66,000. Finally, Quarry LP lifted its holdings in shares of Northern Oil and Gas by 74.4% during the 3rd quarter. Quarry LP now owns 1,974 shares of the company's stock valued at $70,000 after purchasing an additional 842 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Price Performance

Shares of NYSE NOG traded down $0.31 during midday trading on Tuesday, hitting $30.64. 251,323 shares of the company's stock were exchanged, compared to its average volume of 1,370,725. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The business's fifty day moving average price is $34.13 and its two-hundred day moving average price is $36.96. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 5.96 and a beta of 1.84. Northern Oil and Gas, Inc. has a 12-month low of $26.60 and a 12-month high of $44.31.

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Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The company had revenue of $545.47 million for the quarter, compared to analysts' expectations of $552.34 million. As a group, research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

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 issued a dividend of $0.45 per share. The ex-dividend date is Friday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 5.88%. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's dividend payout ratio (DPR) is currently 35.02%.

Northern Oil and Gas announced that its Board of Directors has approved a stock buyback plan on Tuesday, March 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently commented on NOG. Mizuho downgraded 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. Citigroup cut their price target on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Truist Financial boosted their target price 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. Morgan Stanley set a $43.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, January 22nd. Finally, Piper Sandler lowered their target price on 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. One equities 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.com, Northern Oil and Gas has a consensus rating of "Hold" and a consensus price target of $46.89.

Insider Buying and Selling

In other news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the sale, the president now owns 96,223 shares of the company's stock, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas L. O'grady purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the transaction, the chief executive officer now directly 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 corporate insiders.

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.