MML Investors Services LLC Sells 333 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

MML Investors Services LLC lessened its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 3.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 9,706 shares of the company’s stock after selling 333 shares during the period. MML Investors Services LLC’s holdings in Northern Oil and Gas were worth $344,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of Northern Oil and Gas by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 1,220,044 shares of the company’s stock worth $45,349,000 after buying an additional 49,632 shares during the last quarter. Legato Capital Management LLC raised its stake in Northern Oil and Gas by 16.4% during the 2nd quarter. Legato Capital Management LLC now owns 6,034 shares of the company’s stock valued at $224,000 after purchasing an additional 848 shares during the last quarter. Heritage Family Offices LLP bought a new stake in Northern Oil and Gas in the 2nd quarter valued at $217,000. Aptus Capital Advisors LLC grew its position in Northern Oil and Gas by 24.7% in the 2nd quarter. Aptus Capital Advisors LLC now owns 164,488 shares of the company’s stock worth $6,114,000 after purchasing an additional 32,558 shares during the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of Northern Oil and Gas by 23.8% during the 2nd quarter. Natixis Advisors LLC now owns 82,456 shares of the company’s stock worth $3,065,000 after purchasing an additional 15,870 shares during the period. Institutional investors own 98.80% of the company’s stock.

Analysts Set New Price Targets

NOG has been the subject of several research reports. Truist Financial increased their target price on shares of Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Royal Bank of Canada lowered Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $43.00 to $45.00 in a report on Wednesday, November 20th. Mizuho lowered 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 note on Monday, December 16th. Jefferies Financial Group started coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target on the stock. Finally, Piper Sandler dropped their price objective on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.20.

Insiders Place Their Bets

In related news, CFO Chad W. Allen sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the completion of the sale, the chief financial officer now owns 83,792 shares of the company’s stock, valued at $3,351,680. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction 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 in the company, valued at approximately $4,153,226. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,508 shares of company stock valued at $248,113. 2.80% of the stock is currently owned by corporate insiders.

Northern Oil and Gas Stock Up 1.3 %

NOG opened at $36.10 on Wednesday. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 4.33 and a beta of 1.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The firm’s 50-day simple moving average is $39.61 and its 200-day simple moving average is $38.68. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The firm had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. During the same period in the prior year, the firm earned $1.73 earnings per share. The company’s quarterly revenue was up 140.0% compared to the same quarter last year. Equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.4 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a $0.42 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 4.65%. Northern Oil and Gas’s payout ratio is 20.17%.

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.