Northern Oil and Gas, Inc. (NYSE:NOG) Shares Acquired by Swiss National Bank

Swiss National Bank increased its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,100 shares of the company's stock after buying an additional 9,500 shares during the quarter. Swiss National Bank owned 0.19% of Northern Oil and Gas worth $6,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its stake in Northern Oil and Gas by 10.0% during the 3rd quarter. Natixis Advisors LLC now owns 90,715 shares of the company's stock valued at $3,212,000 after purchasing an additional 8,259 shares in the last quarter. Pathstone Holdings LLC lifted its position in Northern Oil and Gas by 16.3% during the third quarter. Pathstone Holdings LLC now owns 39,381 shares of the company's stock valued at $1,396,000 after purchasing an additional 5,524 shares during the period. Jennison Associates LLC boosted its holdings in Northern Oil and Gas by 58.6% in the third quarter. Jennison Associates LLC now owns 521,115 shares of the company's stock valued at $18,453,000 after purchasing an additional 192,539 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Northern Oil and Gas during the 3rd quarter valued at about $951,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Northern Oil and Gas by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company's stock valued at $34,902,000 after buying an additional 103,314 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

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Northern Oil and Gas Trading Up 1.1 %

Shares of NOG traded up $0.33 during midday trading on Wednesday, reaching $30.97. The company had a trading volume of 1,220,013 shares, compared to its average volume of 1,663,219. Northern Oil and Gas, Inc. has a 1-year low of $26.59 and a 1-year high of $44.31. The stock has a market cap of $3.07 billion, a PE ratio of 6.03 and a beta of 1.84. The firm has a 50 day simple moving average of $33.92 and a 200-day simple moving average of $36.93. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02.

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 the consensus estimate 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 net margin of 23.38% and a return on equity of 24.41%. Research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas declared that its board has approved a share buyback plan on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Northern Oil and Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.81%. The ex-dividend date 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 (DPR) is 35.02%.

Insider Buying and Selling at Northern Oil and Gas

In related news, CEO Nicholas L. O'grady purchased 1,000 shares of the business's stock in a transaction on Friday, March 7th. The shares were bought at an average price 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 in the company, valued at $6,215,673.72. This trade represents a 0.44 % 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, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares of the company's stock, valued at $3,752,697. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on NOG shares. Royal Bank of Canada dropped their target price on 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. Citigroup cut their target price on shares of 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 shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 21st. Mizuho downgraded Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 target price on the stock. in a research report on Monday, December 16th. Finally, Piper Sandler dropped their price target 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Northern Oil and Gas currently has a consensus rating of "Hold" and a consensus target price of $46.89.

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.