Wakefield Asset Management LLLP Takes Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Wakefield Asset Management LLLP bought a new position in Northern Oil and Gas, Inc. (NYSE:NOG) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 27,920 shares of the company’s stock, valued at approximately $1,038,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NOG. Avior Wealth Management LLC lifted its position in shares of Northern Oil and Gas by 23.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after buying an additional 259 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Northern Oil and Gas by 9.1% during the fourth quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company’s stock valued at $129,000 after purchasing an additional 289 shares during the period. Legato Capital Management LLC grew its holdings in Northern Oil and Gas by 5.8% during the fourth quarter. Legato Capital Management LLC now owns 6,383 shares of the company’s stock worth $237,000 after acquiring an additional 349 shares during the period. GAMMA Investing LLC increased its holdings in Northern Oil and Gas by 21.0% in the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock valued at $79,000 after buying an additional 368 shares in the last quarter. Finally, Easterly Investment Partners LLC grew its holdings in Northern Oil and Gas by 0.8% in the third quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock valued at $1,792,000 after purchasing an additional 380 shares during the period. 98.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares in the company, valued at $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.80% of the stock is owned by corporate insiders.

Northern Oil and Gas Stock Down 0.5 %

Northern Oil and Gas stock opened at $31.91 on Friday. The firm has a market capitalization of $3.16 billion, a P/E ratio of 6.21 and a beta of 1.82. 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 twelve month low of $31.70 and a twelve month high of $44.31. The stock’s fifty day simple moving average is $37.04 and its 200-day simple moving average is $38.13.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). The company had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. As a group, equities analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a $0.45 dividend. 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 yield of 5.64%. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio is currently 35.02%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NOG shares. Royal Bank of Canada lowered their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Monday, December 16th. Capital One Financial cut shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. Truist Financial boosted their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Piper Sandler cut their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.89.

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.