Voya Investment Management LLC Boosts Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Voya Investment Management LLC grew its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 917,019 shares of the company's stock after purchasing an additional 12,257 shares during the quarter. Voya Investment Management LLC owned 0.92% of Northern Oil and Gas worth $34,076,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NOG. Syon Capital LLC acquired a new position in shares of Northern Oil and Gas in the fourth quarter worth $214,000. Price T Rowe Associates Inc. MD boosted its holdings in Northern Oil and Gas by 11.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 67,746 shares of the company's stock valued at $2,518,000 after purchasing an additional 6,989 shares during the period. ClearAlpha Technologies LP acquired a new position in Northern Oil and Gas during the 4th quarter worth $267,000. State of Tennessee Department of Treasury increased its holdings in Northern Oil and Gas by 16.5% during the 4th quarter. State of Tennessee Department of Treasury now owns 26,892 shares of the company's stock worth $999,000 after purchasing an additional 3,805 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Northern Oil and Gas by 187.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,347 shares of the company's stock valued at $87,000 after purchasing an additional 1,530 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG traded down $0.03 during trading hours on Tuesday, reaching $24.77. The stock had a trading volume of 3,233,224 shares, compared to its average volume of 1,497,254. The firm has a 50-day moving average of $27.43 and a 200-day moving average of $34.79. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 4.82 and a beta of 1.49. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.19. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. Northern Oil and Gas's quarterly revenue was up 51.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 earnings per share. Equities research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

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

Analysts Set New Price Targets

NOG has been the topic of a number of recent research reports. Morgan Stanley cut their target price on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Citigroup reduced their price objective 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. Royal Bank of Canada lowered their target price on shares of Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating for the company in a research note on Monday, April 14th. Truist Financial increased their target price 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. Finally, Bank of America lowered their price objective on Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $43.50.

Insider Buying and Selling

In related news, CEO Nicholas L. O'grady acquired 1,000 shares of Northern Oil and Gas stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $27.48 per share, with a total value of $27,480.00. Following the purchase, the chief executive officer now directly owns 226,189 shares in the company, valued at approximately $6,215,673.72. The trade was a 0.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bahram Akradi acquired 40,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were 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 $46,586,308.48. This trade represents a 2.47 % increase in their position. The disclosure for this purchase can be found here. 2.90% of the stock is owned by company insiders.

Northern Oil and Gas 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.