23,087 Shares in Northern Oil and Gas, Inc. (NYSE:NOG) Bought by Crestline Management LP

Crestline Management LP acquired a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 23,087 shares of the company’s stock, valued at approximately $858,000.

A number of other large investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Northern Oil and Gas during the fourth quarter worth about $29,000. Blue Trust Inc. boosted its stake in shares of Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after buying an additional 801 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Northern Oil and Gas by 23.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after acquiring an additional 259 shares during the period. SBI Securities Co. Ltd. purchased a new position in Northern Oil and Gas in the fourth quarter worth $66,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Northern Oil and Gas by 297.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company’s stock valued at $77,000 after acquiring an additional 1,570 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Analysts Set New Price Targets

NOG has been the subject of a number of research analyst reports. Truist Financial increased their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler reduced their price target 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 lowered Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Bank of America reduced their price objective on Northern Oil and Gas from $48.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Finally, Citigroup lowered their target price on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.50.

Insider Buying and Selling

In related news, Director Bahram Akradi acquired 40,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the acquisition, the director now directly owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. The trade was a 2.47 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Nicholas L. O’grady bought 1,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $27.48 per share, with a total value of $27,480.00. Following the completion of the acquisition, the chief executive officer now owns 226,189 shares of the company’s stock, valued at $6,215,673.72. This trade represents a 0.44 % increase in their position. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by company insiders.

Northern Oil and Gas Trading Up 0.9 %

Shares of NOG stock opened at $26.53 on Friday. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 5.16 and a beta of 1.47. The firm has a 50-day moving average price of $26.23 and a 200 day moving average price of $34.03. 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 (NYSE:NOG) last announced its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.21. The firm had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. Northern Oil and Gas’s revenue was up 51.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.28 earnings per share. Research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.80 annualized dividend and a yield of 6.78%. Northern Oil and Gas’s payout ratio is currently 28.04%.

Northern Oil and Gas announced that its Board of Directors has approved 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.