Royce & Associates LP cut its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 18.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,595 shares of the company's stock after selling 63,254 shares during the quarter. Royce & Associates LP owned 0.28% of Northern Oil and Gas worth $10,353,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Avior Wealth Management LLC boosted its holdings in Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock valued at $51,000 after acquiring an additional 259 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Northern Oil and Gas by 9.1% during the fourth quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company's stock worth $129,000 after purchasing an additional 289 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in shares of Northern Oil and Gas by 2.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock valued at $487,000 after purchasing an additional 298 shares during the period. Legato Capital Management LLC grew its holdings in shares of Northern Oil and Gas by 5.8% in the fourth quarter. Legato Capital Management LLC now owns 6,383 shares of the company's stock valued at $237,000 after purchasing an additional 349 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Northern Oil and Gas by 21.0% during the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company's stock worth $79,000 after buying an additional 368 shares during the period. Hedge funds and other institutional investors own 98.80% of the company's stock.
Northern Oil and Gas Stock Down 2.5 %
NOG stock traded down $0.78 during trading on Friday, hitting $30.02. 3,518,470 shares of the company's stock were exchanged, compared to its average volume of 1,370,648. The business has a 50-day moving average price of $34.52 and a two-hundred day moving average price of $37.07. 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 stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 5.84 and a beta of 1.84. Northern Oil and Gas, Inc. has a 52-week low of $26.60 and a 52-week high of $44.31.
Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued 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). The company had revenue of $545.47 million for the quarter, compared to analysts' expectations of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. As a group, equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.
Northern Oil and Gas announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.
Northern Oil and Gas Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's dividend payout ratio is currently 35.02%.
Insiders Place Their Bets
In related news, President Adam A. Dirlam sold 836 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now owns 96,223 shares in the company, valued at $3,752,697. This represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas L. O'grady acquired 1,000 shares of the stock in a transaction on Friday, March 7th. The shares were acquired at an average cost 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 in the company, valued at $6,215,673.72. The trade was a 0.44 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.80% of the company's stock.
Analyst Ratings Changes
Several research firms have commented on NOG. Morgan Stanley set a $43.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, January 22nd. Citigroup lowered their target price 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. Capital One Financial lowered Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Royal Bank of Canada lowered their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th. Finally, Piper Sandler reduced their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Northern Oil and Gas has a consensus rating of "Hold" and an average target price of $46.89.
View Our Latest Stock Report on Northern Oil and Gas
Northern Oil and Gas Profile
(
Free Report)
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.
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