Caxton Associates LP Takes $275,000 Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Caxton Associates LP acquired a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,407 shares of the company’s stock, valued at approximately $275,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Avior Wealth Management LLC lifted its holdings in shares of Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after acquiring an additional 259 shares during the last quarter. First Horizon Advisors Inc. raised 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 worth $129,000 after buying an additional 289 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Northern Oil and Gas by 2.3% in the 4th 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 period. Summit Investment Advisors Inc. boosted its holdings in shares of Northern Oil and Gas by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,378 shares of the company’s stock valued at $386,000 after buying an additional 329 shares in the last quarter. Finally, Legato Capital Management LLC lifted its position in 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 valued at $237,000 after acquiring an additional 349 shares during the period. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Northern Oil and Gas news, Director Bahram Akradi bought 40,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $28.03 per share, for a total transaction 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 represents a 2.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas L. O’grady acquired 1,000 shares of Northern Oil and Gas stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the purchase, the chief executive officer now directly owns 226,189 shares of the company’s stock, valued at $6,215,673.72. The trade was a 0.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

NOG has been the subject of a number of analyst reports. 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 note on Wednesday, January 29th. 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. Royal Bank of Canada lowered their price target on 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. Morgan Stanley cut their price objective 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 report on Thursday, March 27th. Finally, Citigroup reduced their target price on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. 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 company. According to MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Hold” and an average target price of $43.50.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $24.43 on Thursday. The firm’s 50 day moving average price is $26.29 and its 200-day moving average price is $34.19. 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 capitalization of $2.41 billion, a PE ratio of 4.75 and a beta of 1.47. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.12 by $0.21. The firm had revenue of $602.10 million for the quarter, compared to the consensus estimate of $568.87 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The business’s revenue for the quarter was up 51.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 earnings per share. Equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is 28.04%.

Northern Oil and Gas declared that its board has authorized a stock buyback plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

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.