Northern Oil and Gas, Inc. (NYSE:NOG) Holdings Decreased by Aristotle Capital Boston LLC

Aristotle Capital Boston LLC cut its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 7.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 487,617 shares of the company’s stock after selling 37,817 shares during the quarter. Aristotle Capital Boston LLC’s holdings in Northern Oil and Gas were worth $18,120,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NOG. Headlands Technologies LLC bought a new position in shares of Northern Oil and Gas in the 4th quarter worth about $29,000. Blue Trust Inc. lifted its holdings in Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after acquiring an additional 801 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after acquiring an additional 259 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Northern Oil and Gas during the fourth quarter valued at approximately $66,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Northern Oil and Gas by 297.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company’s stock worth $77,000 after purchasing an additional 1,570 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Insider Activity

In related news, CEO Nicholas L. O’grady bought 1,000 shares of Northern Oil and Gas stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $27.48 per share, with a total value of $27,480.00. Following the completion of the acquisition, the chief executive officer now directly owns 226,189 shares in the company, valued at approximately $6,215,673.72. This trade represents a 0.44 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bahram Akradi acquired 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the purchase, the director now directly owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. This trade represents a 2.47 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.

Northern Oil and Gas Stock Up 1.4 %

NOG stock opened at $25.43 on Friday. The firm’s 50-day moving average is $26.74 and its two-hundred day moving average is $34.46. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 4.95 and a beta of 1.49. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.21. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The firm had revenue of $602.10 million during the quarter, compared to the consensus estimate of $568.87 million. During the same period in the prior year, the firm posted $1.28 earnings per share. The firm’s revenue for the quarter was up 51.9% compared to the same quarter last year. On average, analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 3.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas’s payout ratio is 28.04%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup reduced their price objective on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Royal Bank of Canada lowered their price target 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 report on Monday, April 14th. Truist Financial lifted 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. Piper Sandler decreased their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Finally, Capital One Financial cut Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $43.50.

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.