Trust Point Inc. Sells 13,695 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Trust Point Inc. decreased its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 46.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,597 shares of the company's stock after selling 13,695 shares during the period. Trust Point Inc.'s holdings in Northern Oil and Gas were worth $580,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NOG. abrdn plc bought a new position in Northern Oil and Gas during the 3rd quarter worth $17,096,000. Bridgewater Associates LP boosted its stake in Northern Oil and Gas by 135.6% in the third quarter. Bridgewater Associates LP now owns 511,170 shares of the company's stock valued at $18,101,000 after buying an additional 294,223 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Northern Oil and Gas by 41.4% in the third quarter. New York State Common Retirement Fund now owns 940,987 shares of the company's stock valued at $33,320,000 after buying an additional 275,704 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Northern Oil and Gas by 58.6% during 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Northern Oil and Gas by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company's stock valued at $34,902,000 after purchasing an additional 103,314 shares in the last quarter. Institutional investors own 98.80% of the company's stock.

Insiders Place Their Bets

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the transaction, the president now owns 96,223 shares of the company's stock, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company's stock.

Northern Oil and Gas Trading Down 1.2 %

NOG stock traded down $0.43 during mid-day trading on Friday, reaching $35.18. The company's stock had a trading volume of 774,565 shares, compared to its average volume of 1,433,516. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 4.22 and a beta of 1.81. The business's 50 day moving average price is $38.74 and its 200 day moving average price is $38.59. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a 12 month low of $31.94 and a 12 month high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. During the same quarter in the prior year, the company posted $1.73 earnings per share. Northern Oil and Gas's revenue was up 140.0% compared to the same quarter last year. On average, equities research analysts predict that Northern Oil and Gas, Inc. will post 5.3 EPS for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, March 28th. This represents a $1.80 annualized dividend and a yield of 5.12%. 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 21.61%.

Wall Street Analysts Forecast Growth

NOG has been the topic of a number of recent research reports. Mizuho lowered Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price target on the stock. in a research note on Monday, December 16th. Truist Financial lifted their price target 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. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $45.00 price objective on shares of Northern Oil and Gas in a research note on Friday, January 10th. Finally, Piper Sandler cut their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $47.56.

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.