Systematic Financial Management LP Buys Shares of 19,239 Northern Oil and Gas, Inc. (NYSE:NOG)

Systematic Financial Management LP bought a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 19,239 shares of the company's stock, valued at approximately $681,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP grew its stake in Northern Oil and Gas by 74.4% during the third quarter. Quarry LP now owns 1,974 shares of the company's stock worth $70,000 after buying an additional 842 shares during the period. Portolan Capital Management LLC lifted its holdings in shares of Northern Oil and Gas by 15.0% during the 3rd quarter. Portolan Capital Management LLC now owns 307,240 shares of the company's stock valued at $10,879,000 after acquiring an additional 40,070 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Northern Oil and Gas by 1.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 306,490 shares of the company's stock worth $10,853,000 after purchasing an additional 3,900 shares during the period. Holocene Advisors LP acquired a new stake in Northern Oil and Gas in the 3rd quarter valued at $1,079,000. Finally, Captrust Financial Advisors raised its position in Northern Oil and Gas by 50.0% in the third quarter. Captrust Financial Advisors now owns 18,478 shares of the company's stock valued at $654,000 after purchasing an additional 6,163 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Insiders Place Their Bets

In related news, insider Erik J. Romslo sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction of $52,890.00. Following the completion of the transaction, the insider now owns 105,713 shares in the company, valued at $3,727,440.38. The trade was a 1.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the sale, the president now directly owns 107,876 shares in the company, valued at $4,153,226. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,508 shares of company stock valued at $248,113. Company insiders own 2.80% of the company's stock.

Northern Oil and Gas Stock Down 3.1 %

Shares of Northern Oil and Gas stock traded down $1.28 during trading on Friday, reaching $40.23. The company had a trading volume of 1,478,265 shares, compared to its average volume of 978,624. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 4.83 and a beta of 1.85. Northern Oil and Gas, Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $44.31. The firm's fifty day moving average is $39.58 and its 200-day moving average is $38.73. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The company had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas's quarterly revenue was up 140.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.73 EPS. On average, analysts anticipate that Northern Oil and Gas, Inc. will post 5.4 EPS for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 4.18%. Northern Oil and Gas's payout ratio is 20.17%.

Analysts Set New Price Targets

Several research firms recently commented on NOG. Royal Bank of Canada lowered Northern Oil and Gas from an "outperform" rating to a "sector perform" rating and boosted their price target for the stock from $43.00 to $45.00 in a research report on Wednesday, November 20th. Morgan Stanley reduced their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Monday, September 16th. Piper Sandler raised their price target on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, November 18th. Mizuho began coverage on shares of Northern Oil and Gas in a research note on Thursday, September 19th. They set an "outperform" rating and a $47.00 price target on the stock. Finally, Jefferies Financial Group started coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a "buy" rating and a $53.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $47.50.

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.