Intech Investment Management LLC Makes New $951,000 Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

Intech Investment Management LLC purchased a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,846 shares of the company’s stock, valued at approximately $951,000.

Other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its stake in Northern Oil and Gas by 290.5% during the second quarter. Harbor Capital Advisors Inc. now owns 84,213 shares of the company’s stock worth $3,130,000 after buying an additional 62,649 shares in the last quarter. Boston Partners acquired a new stake in shares of Northern Oil and Gas in the 1st quarter valued at $885,000. American Century Companies Inc. boosted its stake in shares of Northern Oil and Gas by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after purchasing an additional 552,645 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Northern Oil and Gas by 18.5% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 453,414 shares of the company’s stock valued at $16,853,000 after purchasing an additional 70,709 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Northern Oil and Gas by 1,772.3% in the 2nd quarter. SG Americas Securities LLC now owns 116,045 shares of the company’s stock valued at $4,313,000 after purchasing an additional 109,847 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Shares of NYSE:NOG opened at $43.46 on Friday. The stock has a market capitalization of $4.34 billion, a P/E ratio of 5.22 and a beta of 1.80. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $44.31. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The business has a 50-day moving average price of $38.86 and a two-hundred day moving average price of $38.65.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.20. The firm had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The company’s quarterly revenue was up 140.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 EPS. Equities analysts predict that Northern Oil and Gas, Inc. will post 5.42 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 3.87%. Northern Oil and Gas’s dividend payout ratio is currently 20.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price on the stock. Piper Sandler boosted their target price on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Truist Financial boosted their target price on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, StockNews.com cut Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Insiders Place Their Bets

In other news, insider Erik J. Romslo sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the sale, the insider now directly owns 105,713 shares of the company’s stock, valued at $3,727,440.38. This represents a 1.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the sale, the president now directly owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This trade represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,508 shares of company stock valued at $248,113. 2.80% of the stock is currently owned by insiders.

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.