5,887 Shares in Northern Oil and Gas, Inc. (NYSE:NOG) Bought by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC acquired a new position in Northern Oil and Gas, Inc. (NYSE:NOG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,887 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Northern Oil and Gas by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company’s stock worth $418,916,000 after buying an additional 166,501 shares during the last quarter. American Century Companies Inc. grew its position in shares of 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 buying an additional 243,531 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 100,761 shares in the last quarter. Copeland Capital Management LLC lifted its position 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 acquiring an additional 18,195 shares during the last quarter. Finally, Channing Capital Management LLC boosted its stake in 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 valued at $65,648,000 after acquiring an additional 373,917 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Analyst Ratings Changes

NOG has been the subject of several analyst reports. Piper Sandler decreased their price objective on 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. Bank of America lowered their price target on Northern Oil and Gas from $48.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday. 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 report on Thursday, March 27th. Capital One Financial cut shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Finally, Citigroup cut their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. One equities research 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. According to data from MarketBeat.com, Northern Oil and Gas has a consensus rating of “Hold” and an average target price of $45.44.

Northern Oil and Gas Stock Performance

NYSE NOG opened at $30.72 on Thursday. The firm has a market capitalization of $3.04 billion, a P/E ratio of 5.98 and a beta of 1.84. The stock has a 50-day simple moving average of $32.61 and a two-hundred day simple moving average of $36.75. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. Northern Oil and Gas, Inc. has a fifty-two week low of $26.60 and a fifty-two week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last announced 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%. On average, equities analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.86%. 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 dividend payout ratio (DPR) is currently 35.02%.

Northern Oil and Gas announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, Director Bahram Akradi bought 40,000 shares of Northern Oil and Gas stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the purchase, the director now directly owns 1,662,016 shares in the company, valued at $46,586,308.48. This represents a 2.47 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now directly owns 96,223 shares in the company, valued at $3,752,697. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate 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.