Sciencast Management LP Invests $851,000 in Northern Oil and Gas, Inc. (NYSE:NOG)

Sciencast Management LP bought a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,899 shares of the company's stock, valued at approximately $851,000.

A number of other large investors also recently added to or reduced their stakes in the business. Avior Wealth Management LLC boosted its position 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 valued at $51,000 after buying an additional 259 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Northern Oil and Gas by 9.1% in the 4th quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company's stock valued at $129,000 after acquiring an additional 289 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in Northern Oil and Gas by 2.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock valued at $487,000 after acquiring an additional 298 shares during the period. Legato Capital Management LLC grew its position in Northern Oil and Gas by 5.8% during the 4th quarter. Legato Capital Management LLC now owns 6,383 shares of the company's stock worth $237,000 after acquiring an additional 349 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Northern Oil and Gas by 21.0% in the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company's stock worth $79,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors own 98.80% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have weighed in on NOG. Capital One Financial lowered Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 21st. 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, February 25th. Royal Bank of Canada cut 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 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. Finally, 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 report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $46.33.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, CEO Nicholas L. O'grady purchased 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bahram Akradi acquired 40,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the purchase, the director now directly owns 1,662,016 shares of the company's stock, valued at $46,586,308.48. This represents a 2.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.80% of the company's stock.

Northern Oil and Gas Trading Down 0.4 %

Shares of NYSE NOG traded down $0.12 during midday trading on Thursday, hitting $30.83. 1,322,308 shares of the company traded hands, compared to its average volume of 1,368,992. Northern Oil and Gas, Inc. has a 12-month low of $26.60 and a 12-month high of $44.31. The firm has a market cap of $3.06 billion, a P/E ratio of 6.00 and a beta of 1.84. The stock has a 50-day moving average price of $33.70 and a 200 day moving average price of $36.89. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share 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 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, analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be issued a $0.45 dividend. This is an increase from Northern Oil and Gas's previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 5.84%. Northern Oil and Gas's dividend payout ratio is 35.02%.

Northern Oil and Gas declared that its board has authorized a share buyback plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.