Victory Capital Management Inc. Sells 38,777 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Victory Capital Management Inc. lowered its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 4.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 802,131 shares of the company's stock after selling 38,777 shares during the period. Victory Capital Management Inc. owned 0.80% of Northern Oil and Gas worth $29,807,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Legacy Investment Solutions LLC bought a new position in shares of Northern Oil and Gas during the 3rd quarter worth approximately $25,000. Blue Trust Inc. boosted its holdings in shares of Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock worth $44,000 after buying an additional 801 shares during the period. Avior Wealth Management LLC grew its stake in Northern Oil and Gas by 23.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock valued at $51,000 after buying an additional 259 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Northern Oil and Gas in the 4th quarter valued at about $66,000. Finally, Covestor Ltd boosted its holdings in shares of Northern Oil and Gas by 122.6% during the third quarter. Covestor Ltd now owns 1,903 shares of the company's stock worth $67,000 after acquiring an additional 1,048 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NOG shares. Royal Bank of Canada dropped their price target on Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. Capital One Financial downgraded shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 21st. Piper Sandler cut their price objective 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. Citigroup lowered 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 report on Tuesday, February 25th. Finally, Truist Financial increased their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $46.89.

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Northern Oil and Gas Price Performance

Shares of NOG stock traded down $0.48 on Thursday, hitting $28.33. 1,255,026 shares of the company's stock were exchanged, compared to its average volume of 1,693,803. The stock has a market cap of $2.81 billion, a P/E ratio of 5.51 and a beta of 1.84. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The company has a 50 day moving average of $35.60 and a 200 day moving average of $37.48. Northern Oil and Gas, Inc. has a 12 month low of $26.59 and a 12 month high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its 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). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The firm had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. On average, 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 dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.35%. 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 is currently 35.02%.

Northern Oil and Gas declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Northern Oil and Gas news, Director Bahram Akradi bought 40,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the transaction, the director now directly owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. The trade was a 2.47 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the transaction, the president now directly owns 96,223 shares in the company, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.80% 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.