HUB Investment Partners LLC Makes New Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

HUB Investment Partners LLC purchased a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,957 shares of the company’s stock, valued at approximately $296,000.

Other institutional investors have also recently bought and sold shares of the company. Icon Wealth Advisors LLC acquired a new position in shares of Northern Oil and Gas in the third quarter valued at approximately $828,000. Smartleaf Asset Management LLC grew its position in shares of Northern Oil and Gas by 297.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company’s stock valued at $77,000 after purchasing an additional 1,570 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Northern Oil and Gas by 2.5% in the fourth quarter. Principal Financial Group Inc. now owns 481,797 shares of the company’s stock valued at $17,904,000 after purchasing an additional 11,690 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Northern Oil and Gas by 36.1% in the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company’s stock valued at $2,877,000 after purchasing an additional 20,550 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Northern Oil and Gas in the fourth quarter valued at approximately $909,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Citigroup decreased their target price on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research report on Monday, December 16th. Truist Financial upped their target price 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. Capital One Financial downgraded Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. Finally, Piper Sandler reduced their price target 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 five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.89.

Insiders Place Their Bets

In other news, Director Bahram Akradi purchased 40,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the purchase, the director now owns 1,662,016 shares of the company’s stock, valued at approximately $46,586,308.48. The trade was a 2.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas L. O’grady purchased 1,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $27.48 per share, with a total value of $27,480.00. Following the completion of the purchase, the chief executive officer now directly owns 226,189 shares in the company, valued at $6,215,673.72. The trade was a 0.44 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.80% of the company’s stock.

Northern Oil and Gas Stock Down 2.5 %

NYSE NOG opened at $30.02 on Friday. The business has a fifty day moving average price of $34.33 and a two-hundred day moving average price of $36.99. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. Northern Oil and Gas, Inc. has a fifty-two week low of $26.60 and a fifty-two week high of $44.31. The stock has a market capitalization of $2.98 billion, a PE ratio of 5.84 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The business had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, March 28th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 6.00%. Northern Oil and Gas’s dividend payout ratio is presently 35.02%.

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

About Northern Oil and Gas

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.