GAMMA Investing LLC Purchases 647 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

GAMMA Investing LLC lifted its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 58.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,752 shares of the company’s stock after acquiring an additional 647 shares during the quarter. GAMMA Investing LLC’s holdings in Northern Oil and Gas were worth $62,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Northern Oil and Gas by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after acquiring an additional 43,940 shares during the period. UniSuper Management Pty Ltd bought a new position in Northern Oil and Gas in the 1st quarter worth about $1,046,000. Motley Fool Asset Management LLC boosted its stake in Northern Oil and Gas by 29.0% in the 1st quarter. Motley Fool Asset Management LLC now owns 72,533 shares of the company’s stock worth $2,878,000 after purchasing an additional 16,302 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in Northern Oil and Gas by 1.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock worth $29,747,000 after purchasing an additional 12,814 shares during the period. Finally, Capstone Investment Advisors LLC boosted its stake in Northern Oil and Gas by 8,679.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock worth $20,355,000 after purchasing an additional 507,129 shares during the period. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG opened at $37.92 on Thursday. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 6.15 and a beta of 1.81. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $43.80. The stock’s 50-day moving average is $37.63 and its 200 day moving average is $39.08.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. The company had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. Northern Oil and Gas’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the firm posted $1.49 EPS. On average, sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.29 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.43%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 27.23%.

Analyst Upgrades and Downgrades

NOG has been the subject of several analyst reports. Mizuho initiated coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They issued an “outperform” rating and a $47.00 target price for the company. Truist Financial cut their target price on Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Bank of America raised their target price on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley lowered their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Jefferies Financial Group assumed coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.80.

Insider Activity at Northern Oil and Gas

In related news, CFO Chad W. Allen sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the transaction, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at approximately $3,351,680. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now directly owns 107,876 shares of the company’s stock, valued at $4,153,226. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Chad W. Allen sold 1,500 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $40.00, for a total value of $60,000.00. Following the completion of the transaction, the chief financial officer now directly owns 83,792 shares in the company, valued at $3,351,680. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,008 shares of company stock valued at $228,013. Corporate insiders own 2.80% of the company’s stock.

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.