Private Advisor Group LLC Trims Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Private Advisor Group LLC lowered its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 29.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,072 shares of the company’s stock after selling 2,525 shares during the period. Private Advisor Group LLC’s holdings in Northern Oil and Gas were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NOG. New York State Teachers Retirement System raised its position in Northern Oil and Gas by 3.4% during the 3rd quarter. New York State Teachers Retirement System now owns 45,864 shares of the company’s stock valued at $1,624,000 after purchasing an additional 1,526 shares during the last quarter. Amalgamated Bank boosted its stake in Northern Oil and Gas by 3.9% during the 3rd quarter. Amalgamated Bank now owns 29,290 shares of the company’s stock valued at $1,037,000 after purchasing an additional 1,108 shares during the last quarter. Verity Asset Management Inc. boosted its stake in Northern Oil and Gas by 9.3% during the 3rd quarter. Verity Asset Management Inc. now owns 13,335 shares of the company’s stock valued at $472,000 after purchasing an additional 1,130 shares during the last quarter. Heritage Wealth Management Inc. boosted its stake in Northern Oil and Gas by 11.4% during the 3rd quarter. Heritage Wealth Management Inc. now owns 27,460 shares of the company’s stock valued at $972,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Easterly Investment Partners LLC lifted its holdings in shares of Northern Oil and Gas by 0.8% during the 3rd quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock valued at $1,792,000 after buying an additional 380 shares during the period. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

NYSE NOG opened at $26.93 on Friday. The firm has a market capitalization of $2.67 billion, a P/E ratio of 5.24 and a beta of 1.84. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a 12-month low of $26.59 and a 12-month high of $44.31. The firm’s fifty day simple moving average is $36.29 and its two-hundred day simple moving average is $37.77.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share 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 company had revenue of $545.47 million for the quarter, compared to analysts’ expectations of $552.34 million. Analysts forecast that Northern Oil and Gas, Inc. will post 5.18 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 Wednesday, April 30th. Shareholders of record on Friday, March 28th will be given a $0.45 dividend. The ex-dividend date is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.68%. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio is 35.02%.

Analysts Set New Price Targets

NOG has been the topic of several research analyst reports. Piper Sandler lowered their price target on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Capital One Financial lowered Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. Mizuho lowered Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research report on Monday, December 16th. Royal Bank of Canada dropped their price target on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Finally, Truist Financial raised their price objective 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.89.

Insiders Place Their Bets

In other Northern Oil and Gas news, Director Bahram Akradi acquired 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $28.03 per share, with a total value of $1,121,200.00. Following the purchase, the director now owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. The trade was a 2.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction dated 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 approximately $3,752,697. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. 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.