Virtu Financial LLC Takes $601,000 Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Virtu Financial LLC acquired a new position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,176 shares of the company's stock, valued at approximately $601,000.

A number of other hedge funds have also recently added to or reduced their stakes in NOG. Avior Wealth Management LLC lifted its position in shares of 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 worth $51,000 after buying an additional 259 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in Northern Oil and Gas by 9.1% in the fourth quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company's stock valued at $129,000 after acquiring an additional 289 shares during the period. Avantax Advisory Services Inc. grew its holdings in shares of Northern Oil and Gas by 2.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock valued at $487,000 after purchasing an additional 298 shares during the last quarter. Legato Capital Management LLC raised its position in shares of Northern Oil and Gas by 5.8% during the 4th quarter. Legato Capital Management LLC now owns 6,383 shares of the company's stock worth $237,000 after purchasing an additional 349 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Northern Oil and Gas by 21.0% in the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company's stock worth $79,000 after purchasing an additional 368 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

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Insider Activity

In other Northern Oil and Gas news, Director Bahram Akradi purchased 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction 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 completion of 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 position. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Northern Oil and Gas Stock Performance

NYSE NOG traded down $0.64 during midday trading on Friday, hitting $30.19. The company had a trading volume of 1,270,696 shares, compared to its average volume of 1,421,089. Northern Oil and Gas, Inc. has a fifty-two week low of $26.60 and a fifty-two week high of $44.31. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 5.87 and a beta of 1.84. The firm has a fifty day simple moving average of $33.24 and a two-hundred day simple moving average of $36.83.

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

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

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.45 per share. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 5.96%. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas's dividend payout ratio is currently 35.02%.

Analyst Upgrades and Downgrades

NOG has been the topic of a number of analyst reports. Piper Sandler dropped their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, January 29th. 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 report on Monday, January 13th. Morgan Stanley reduced their price target on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a research report on Thursday. Citigroup dropped their price target 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. Finally, Royal Bank of Canada cut 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 research note on Thursday, February 13th. One 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 currently has a consensus rating of "Hold" and an average target price of $46.33.

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.