Northern Oil and Gas, Inc. (NYSE:NOG) Position Trimmed by Prudential Financial Inc.

Prudential Financial Inc. lowered its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 103,073 shares of the company’s stock after selling 4,988 shares during the period. Prudential Financial Inc. owned approximately 0.10% of Northern Oil and Gas worth $4,167,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Northern Oil and Gas by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company’s stock worth $418,916,000 after purchasing an additional 166,501 shares during the period. American Century Companies Inc. increased its stake in Northern Oil and Gas by 3.9% in the 4th quarter. American Century Companies Inc. now owns 6,537,596 shares of the company’s stock worth $242,937,000 after purchasing an additional 243,531 shares in the last quarter. Geode Capital Management LLC raised its holdings in Northern Oil and Gas by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock worth $80,884,000 after buying an additional 100,761 shares during the period. Copeland Capital Management LLC lifted its stake in Northern Oil and Gas by 0.9% during the fourth quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company’s stock valued at $78,590,000 after buying an additional 18,195 shares in the last quarter. Finally, Channing Capital Management LLC boosted its holdings in shares of Northern Oil and Gas by 26.8% in the fourth quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company’s stock worth $65,648,000 after buying an additional 373,917 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analyst Ratings Changes

NOG has been the topic of a number of recent analyst reports. Bank of America cut their price target on shares of Northern Oil and Gas from $48.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday. Royal Bank of Canada cut their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Piper Sandler decreased their target price on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Citigroup dropped their price target 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. Finally, Capital One Financial lowered Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.44.

Insider Buying and Selling

In related news, CEO Nicholas L. O’grady bought 1,000 shares of Northern Oil and Gas stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the acquisition, the chief executive officer now owns 226,189 shares in the company, valued at $6,215,673.72. This trade represents a 0.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Adam A. Dirlam sold 836 shares of the stock in a transaction that occurred 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 transaction, the president now owns 96,223 shares in the company, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $29.82 on Wednesday. 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’s 50-day moving average is $32.79 and its two-hundred day moving average is $36.79. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The firm has a market cap of $2.96 billion, a P/E ratio of 5.80 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). The firm had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. Analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.04%. The ex-dividend date is Friday, March 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s payout ratio is presently 35.02%.

Northern Oil and Gas declared that its board has initiated a share repurchase plan on Tuesday, March 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management 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.