Northern Oil and Gas, Inc. (NYSE:NOG) Shares Bought by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC increased its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 297.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,098 shares of the company’s stock after purchasing an additional 1,570 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Northern Oil and Gas were worth $77,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Wakefield Asset Management LLLP bought a new stake in shares of Northern Oil and Gas during the 4th quarter worth about $1,038,000. Proficio Capital Partners LLC bought a new stake in Northern Oil and Gas during the fourth quarter worth approximately $909,000. Denali Advisors LLC acquired a new stake in Northern Oil and Gas in the fourth quarter worth approximately $2,716,000. Illinois Municipal Retirement Fund boosted its stake in Northern Oil and Gas by 0.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 56,045 shares of the company’s stock valued at $2,083,000 after purchasing an additional 487 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Northern Oil and Gas by 9.1% during the 4th quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company’s stock valued at $129,000 after purchasing an additional 289 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Insider Activity

In related news, Director Bahram Akradi acquired 40,000 shares of the company’s stock in a transaction on 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 purchase, the director now owns 1,662,016 shares in the company, valued at $46,586,308.48. This represents a 2.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the president now directly owns 96,223 shares of the company’s stock, valued at $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 owned by corporate insiders.

Northern Oil and Gas Stock Up 2.4 %

Shares of NYSE:NOG opened at $27.53 on Monday. The firm has a 50 day simple moving average of $36.12 and a 200 day simple moving average of $37.69. Northern Oil and Gas, Inc. has a 52 week low of $26.59 and a 52 week high of $44.31. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The company has a market cap of $2.73 billion, a PE ratio of 5.36 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 (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $545.47 million during the quarter, compared to analysts’ expectations of $552.34 million. As a group, research analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current 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. This represents a $1.80 annualized dividend and a yield of 6.54%. 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 Analysts Forecast Growth

Several brokerages have recently weighed in on NOG. Morgan Stanley set a $43.00 price objective on Northern Oil and Gas in a report on Wednesday, January 22nd. Citigroup cut their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Piper Sandler reduced their price objective on shares of 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. Capital One Financial downgraded shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Finally, Mizuho cut 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.89.

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.