Geode Capital Management LLC Sells 10,012 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Geode Capital Management LLC lessened its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,273,765 shares of the company’s stock after selling 10,012 shares during the period. Geode Capital Management LLC owned approximately 2.28% of Northern Oil and Gas worth $84,513,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Northern Oil and Gas by 177.2% during the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after buying an additional 801 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after purchasing an additional 259 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Northern Oil and Gas during the fourth quarter valued at $66,000. Smartleaf Asset Management LLC increased its holdings in 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 buying an additional 1,570 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Northern Oil and Gas by 21.0% in the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock valued at $79,000 after purchasing an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Insider Buying and Selling

In related news, CEO Nicholas L. O’grady bought 1,000 shares of the stock in a transaction dated Friday, March 7th. The stock was acquired at an average price 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 approximately $6,215,673.72. This represents a 0.44 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bahram Akradi bought 40,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the transaction, the director now directly owns 1,662,016 shares of the company’s stock, valued at approximately $46,586,308.48. This represents a 2.47 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.80% of the company’s stock.

Northern Oil and Gas Stock Performance

NYSE NOG opened at $21.67 on Friday. 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 company has a market cap of $2.15 billion, a P/E ratio of 4.21 and a beta of 1.49. The stock has a 50-day moving average of $30.32 and a two-hundred day moving average of $36.00. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $44.31.

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

Northern Oil and Gas declared that its board has approved a share repurchase plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 8.31%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s payout ratio is 35.02%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NOG. Citigroup dropped 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. Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a report on Monday, December 16th. Morgan Stanley decreased their target price on shares of Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Bank of America dropped their target price on Northern Oil and Gas from $48.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Finally, Truist Financial boosted their target price on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.44.

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.