Semanteon Capital Management LP Acquires New Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Semanteon Capital Management LP purchased a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 22,139 shares of the company's stock, valued at approximately $823,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NOG. Icon Wealth Advisors LLC acquired a new position in Northern Oil and Gas in the 3rd quarter valued at about $828,000. Smartleaf Asset Management LLC increased its stake in Northern Oil and Gas by 297.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock worth $77,000 after buying an additional 1,570 shares during the period. Principal Financial Group Inc. lifted its holdings in Northern Oil and Gas by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 481,797 shares of the company's stock worth $17,904,000 after buying an additional 11,690 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Northern Oil and Gas by 36.1% in the 4th quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company's stock valued at $2,877,000 after buying an additional 20,550 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Northern Oil and Gas in the fourth quarter worth $909,000. Hedge funds and other institutional investors own 98.80% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NOG shares. Citigroup reduced their price objective on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Truist Financial increased their price target on 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. Piper Sandler lowered their price objective 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. Royal Bank of Canada reduced their target price 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. Finally, Mizuho downgraded shares of 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $46.89.

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Insiders Place Their Bets

In other news, President Adam A. Dirlam sold 836 shares of the firm's stock in a transaction that occurred 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 transaction, the president now directly owns 96,223 shares of the company's stock, valued at $3,752,697. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nicholas L. O'grady purchased 1,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $27.48 per share, with a total value of $27,480.00. Following 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 position. The disclosure for this purchase can be found here. 2.80% of the stock is owned by company insiders.

Northern Oil and Gas Price Performance

Shares of NOG traded down $0.24 during trading hours on Tuesday, reaching $30.70. The company had a trading volume of 775,542 shares, 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. 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 50 day simple moving average of $34.13 and a 200-day simple moving average of $36.96. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 5.97 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.16). The company had revenue of $545.47 million during the quarter, compared to analysts' expectations of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. Research 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. 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 is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 5.86%. Northern Oil and Gas's payout ratio is currently 35.02%.

Northern Oil and Gas announced that its board has approved a share repurchase program on Tuesday, March 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

About Northern Oil and Gas

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.