Aptus Capital Advisors LLC Purchases 42,784 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Aptus Capital Advisors LLC increased its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 22.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 232,852 shares of the company’s stock after buying an additional 42,784 shares during the quarter. Aptus Capital Advisors LLC owned 0.23% of Northern Oil and Gas worth $8,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC raised its position in Northern Oil and Gas by 193.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 18,724 shares of the company’s stock worth $696,000 after purchasing an additional 12,347 shares during the period. Northern Trust Corp boosted its holdings in Northern Oil and Gas by 9.2% during the 4th quarter. Northern Trust Corp now owns 1,246,573 shares of the company’s stock valued at $46,323,000 after acquiring an additional 104,854 shares during the period. Aquatic Capital Management LLC grew its position in Northern Oil and Gas by 453.8% during the 4th quarter. Aquatic Capital Management LLC now owns 38,210 shares of the company’s stock worth $1,420,000 after acquiring an additional 31,310 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Northern Oil and Gas in the 4th quarter worth approximately $5,906,000. Finally, Pingora Partners LLC bought a new stake in Northern Oil and Gas in the fourth quarter valued at approximately $308,000. 98.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley decreased 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. Royal Bank of Canada lowered their price objective 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. Bank of America cut their target price on Northern Oil and Gas from $48.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Truist Financial upped their price target on 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. Finally, Piper Sandler cut their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Oil and Gas has an average rating of “Hold” and an average price target of $43.50.

Insider Buying and Selling

In other news, Director Bahram Akradi acquired 40,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 1,662,016 shares of the company’s stock, valued at $46,586,308.48. This trade represents a 2.47 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nicholas L. O’grady bought 1,000 shares of the firm’s 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 completion of the acquisition, the chief executive officer now directly owns 226,189 shares of the company’s stock, valued at approximately $6,215,673.72. The trade was a 0.44 % increase in their position. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by company insiders.

Northern Oil and Gas Trading Up 1.4 %

NOG opened at $25.43 on Friday. The stock has a market cap of $2.51 billion, a PE ratio of 4.95 and a beta of 1.49. The business has a 50 day moving average of $26.74 and a 200-day moving average of $34.44. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 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.

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 net margin of 23.38% and a return on equity of 24.41%. The firm had revenue of $602.10 million for the quarter, compared to the consensus estimate of $568.87 million. During the same period in the prior year, the firm earned $1.28 EPS. The company’s revenue was up 51.9% compared to the same quarter last year. Equities research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

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

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

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.