Charles Schwab Investment Management Inc. Acquires 73,256 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Charles Schwab Investment Management Inc. boosted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,058,899 shares of the company’s stock after buying an additional 73,256 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.06% of Northern Oil and Gas worth $39,349,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Legacy Investment Solutions LLC acquired a new stake in shares of Northern Oil and Gas in the third quarter worth $25,000. Blue Trust Inc. boosted its holdings in Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after purchasing an additional 801 shares during the period. Avior Wealth Management LLC grew its position in Northern Oil and Gas by 23.3% in 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 last quarter. SBI Securities Co. Ltd. bought a new position in shares of Northern Oil and Gas during the 4th quarter worth about $66,000. Finally, Quarry LP raised its position in shares of Northern Oil and Gas by 74.4% during the third quarter. Quarry LP now owns 1,974 shares of the company’s stock valued at $70,000 after buying an additional 842 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Up 3.8 %

Shares of NYSE NOG opened at $29.40 on Friday. Northern Oil and Gas, Inc. has a 52-week low of $26.60 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 business has a fifty day moving average of $35.23 and a two-hundred day moving average of $37.32. The stock has a market cap of $2.91 billion, a PE ratio of 5.72 and a beta of 1.84.

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 the consensus estimate of $1.27 by ($0.16). The firm had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. As a group, equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas announced that its Board of Directors has authorized a stock buyback program on Tuesday, March 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be issued a $0.45 dividend. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 6.12%. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s payout ratio is presently 35.02%.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas L. O’grady bought 1,000 shares of Northern Oil and Gas stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the transaction, the chief executive officer now directly owns 226,189 shares of the company’s stock, valued at $6,215,673.72. This represents a 0.44 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NOG has been the topic of a number of recent research reports. 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. Morgan Stanley set a $43.00 price objective on Northern Oil and Gas in a research report on Wednesday, January 22nd. Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a research report on Monday, December 16th. Truist Financial lifted their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Piper Sandler dropped 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 note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Northern Oil and Gas has a consensus rating of “Hold” and an average target price 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.