Susquehanna Fundamental Investments LLC Acquires Shares of 158,924 Northern Oil and Gas, Inc. (NYSE:NOG)

Susquehanna Fundamental Investments LLC purchased a new position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 158,924 shares of the company's stock, valued at approximately $5,906,000. Susquehanna Fundamental Investments LLC owned about 0.16% of Northern Oil and Gas at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOG. Vanguard Group Inc. lifted its stake in shares of Northern Oil and Gas by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company's stock worth $418,916,000 after buying an additional 166,501 shares in the last quarter. American Century Companies Inc. lifted its stake in Northern Oil and Gas by 3.9% in the 4th quarter. American Century Companies Inc. now owns 6,537,596 shares of the company's stock worth $242,937,000 after purchasing an additional 243,531 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Northern Oil and Gas by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,296,886 shares of the company's stock worth $122,507,000 after purchasing an additional 68,631 shares during the last quarter. Copeland Capital Management LLC grew its position in shares of Northern Oil and Gas by 0.9% in the fourth quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company's stock valued at $78,590,000 after purchasing an additional 18,195 shares in the last quarter. Finally, Channing Capital Management LLC grew its position in shares of Northern Oil and Gas by 26.8% in the fourth quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company's stock valued at $65,648,000 after purchasing an additional 373,917 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $24.14 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The firm has a market cap of $2.39 billion, a P/E ratio of 4.70 and a beta of 1.49. The firm's 50 day moving average price is $27.64 and its 200-day moving average price is $34.89. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31.

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

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be given a $0.45 dividend. This is an increase from Northern Oil and Gas's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 7.46%. The ex-dividend date is Friday, March 28th. Northern Oil and Gas's payout ratio is currently 35.02%.

Northern Oil and Gas announced that its Board of Directors has authorized a stock buyback program on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are often an indication 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. Royal Bank of Canada lowered their price objective on Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Monday, April 14th. Morgan Stanley dropped their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Citigroup reduced their target price on shares of 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 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 report on Monday, January 13th. Finally, Piper Sandler cut their price target 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 analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of "Hold" and an average price target of $43.50.

Insiders Place Their Bets

In other Northern Oil and Gas news, Director Bahram Akradi bought 40,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the purchase, the director now directly owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. This represents a 2.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas L. O'grady bought 1,000 shares of Northern Oil and Gas stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the acquisition, the chief executive officer now owns 226,189 shares in the company, 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. Insiders own 2.90% of the company's stock.

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.

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