Wakefield Asset Management LLLP Acquires New Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Wakefield Asset Management LLLP bought a new stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 27,920 shares of the company's stock, valued at approximately $1,038,000.

Other institutional investors also recently bought and sold shares of the company. Icon Wealth Advisors LLC purchased a new stake in shares of Northern Oil and Gas in the 3rd quarter worth about $828,000. Principal Financial Group Inc. lifted its holdings in shares of Northern Oil and Gas by 2.5% in the fourth quarter. Principal Financial Group Inc. now owns 481,797 shares of the company's stock valued at $17,904,000 after purchasing an additional 11,690 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Northern Oil and Gas by 36.1% in the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company's stock valued at $2,877,000 after purchasing an additional 20,550 shares during the last quarter. James Investment Research Inc. purchased a new position in shares of Northern Oil and Gas during the 4th quarter worth approximately $393,000. Finally, Heritage Family Offices LLP acquired a new position in shares of Northern Oil and Gas during the 4th quarter worth approximately $244,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup lowered their target price on 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. Morgan Stanley set a $43.00 price objective on Northern Oil and Gas in a research note on Wednesday, January 22nd. 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. Mizuho cut shares of 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. Finally, Truist Financial boosted their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas has an average rating of "Hold" and a consensus target price of $46.89.

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Northern Oil and Gas Trading Down 2.8 %

Shares of NYSE NOG traded down $0.81 during midday trading on Tuesday, hitting $27.62. The stock had a trading volume of 2,454,139 shares, compared to its average volume of 1,553,981. The company has a fifty day moving average price of $36.82 and a 200 day moving average price of $38.00. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 5.38 and a beta of 1.81. Northern Oil and Gas, Inc. has a 1-year low of $26.82 and a 1-year 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.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. On average, analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be issued a $0.45 dividend. The ex-dividend date is Friday, March 28th. 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 dividend yield of 6.52%. Northern Oil and Gas's payout ratio is 35.02%.

Insider Activity at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the firm's stock in a transaction that occurred 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 sale, the president now owns 96,223 shares of the company's stock, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.