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

Sciencast Management LP purchased a new position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 22,899 shares of the company's stock, valued at approximately $851,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of Northern Oil and Gas in the 3rd quarter worth $25,000. Blue Trust Inc. lifted its holdings in shares of Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock valued at $44,000 after acquiring an additional 801 shares in the last quarter. Avior Wealth Management LLC boosted its position 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 worth $51,000 after purchasing an additional 259 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Northern Oil and Gas in the 4th quarter valued at $66,000. Finally, Quarry LP raised its position in Northern Oil and Gas by 74.4% in the third quarter. Quarry LP now owns 1,974 shares of the company's stock valued at $70,000 after purchasing an additional 842 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Price Performance

NOG traded down $0.12 during trading on Tuesday, reaching $30.82. The stock had a trading volume of 446,541 shares, compared to its average volume of 1,370,725. Northern Oil and Gas, Inc. has a 1-year low of $26.60 and a 1-year high of $44.31. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 6.00 and a beta of 1.84. The stock has a 50 day moving average of $34.13 and a two-hundred day moving average of $36.96. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02.

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Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its earnings results 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 firm had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. As a group, equities 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 represents a $1.80 annualized dividend and a dividend yield of 5.84%. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's payout ratio is currently 35.02%.

Northern Oil and Gas announced that its board has initiated a share 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 reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have weighed in on NOG. Piper Sandler decreased their price target on 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. Capital One Financial cut shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Citigroup dropped their target price on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. 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. Finally, Royal Bank of Canada dropped their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating for the company in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Northern Oil and Gas currently has an average rating of "Hold" and a consensus price target of $46.89.

Insider Buying and Selling

In related news, 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 cost of $27.48 per share, for a total transaction of $27,480.00. Following the acquisition, the chief executive officer now directly owns 226,189 shares of the company's stock, valued at $6,215,673.72. The trade was a 0.44 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bahram Akradi bought 40,000 shares of Northern Oil and Gas stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the acquisition, the director now owns 1,662,016 shares of the company's stock, valued at $46,586,308.48. The trade was 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 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.