Northern Oil and Gas, Inc. (NYSE:NOG) Holdings Reduced by Bokf Na

Bokf Na lessened its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,216 shares of the company’s stock after selling 416 shares during the period. Bokf Na’s holdings in Northern Oil and Gas were worth $488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Northern Oil and Gas by 21.0% in the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock worth $79,000 after purchasing an additional 368 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Northern Oil and Gas by 1.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 141,100 shares of the company’s stock valued at $5,243,000 after buying an additional 2,636 shares during the period. Heritage Family Offices LLP acquired a new stake in shares of Northern Oil and Gas in the 4th quarter worth approximately $244,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Northern Oil and Gas by 11.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 30,532 shares of the company’s stock valued at $1,135,000 after acquiring an additional 3,239 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Northern Oil and Gas by 17.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 9,743 shares of the company’s stock valued at $362,000 after acquiring an additional 1,461 shares during the period. 98.80% of the stock is owned by institutional investors.

Insider Activity at Northern Oil and Gas

In related news, Director Bahram Akradi purchased 40,000 shares of Northern Oil and Gas stock in a transaction 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 completion of the transaction, the director now directly owns 1,662,016 shares of the company’s stock, valued at approximately $46,586,308.48. This represents a 2.47 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas L. O’grady purchased 1,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $27.48 per share, with a total value of $27,480.00. Following the purchase, the chief executive officer now owns 226,189 shares in the company, valued at $6,215,673.72. This represents a 0.44 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

NOG has been the subject of a number of research analyst reports. Bank of America cut their target price on Northern Oil and Gas from $48.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. 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. Morgan Stanley lowered their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Truist Financial increased their target price on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Capital One Financial lowered shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Northern Oil and Gas currently has an average rating of “Hold” and a consensus price target of $43.50.

Northern Oil and Gas Trading Up 0.9 %

Shares of NYSE NOG opened at $26.53 on Friday. The firm has a market capitalization of $2.62 billion, a PE ratio of 5.16 and a beta of 1.47. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The business has a 50-day moving average price of $26.23 and a two-hundred day moving average price of $34.03.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.21. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The firm had revenue of $602.10 million for the quarter, compared to the consensus estimate of $568.87 million. During the same period in the previous year, the firm posted $1.28 earnings per share. The firm’s revenue was up 51.9% on a year-over-year basis. As a group, analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas declared that its Board of Directors has approved a stock repurchase plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Northern Oil and Gas Announces Dividend

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

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.