Northern Oil and Gas, Inc. (NYSE:NOG) Stock Holdings Increased by Legal & General Group Plc

Legal & General Group Plc boosted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 257,331 shares of the company’s stock after buying an additional 4,938 shares during the quarter. Legal & General Group Plc’s holdings in Northern Oil and Gas were worth $9,562,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of Northern Oil and Gas by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock worth $80,884,000 after acquiring an additional 100,761 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Northern Oil and Gas by 21.0% in the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock valued at $79,000 after purchasing an additional 368 shares during the period. Doliver Advisors LP increased its stake in Northern Oil and Gas by 2.9% in the 4th quarter. Doliver Advisors LP now owns 28,667 shares of the company’s stock worth $1,065,000 after purchasing an additional 800 shares in the last quarter. Insight Wealth Strategies LLC raised its holdings in Northern Oil and Gas by 2.7% during the 4th quarter. Insight Wealth Strategies LLC now owns 28,550 shares of the company’s stock worth $1,061,000 after buying an additional 751 shares during the period. Finally, Range Financial Group LLC purchased a new stake in Northern Oil and Gas during the fourth quarter valued at about $332,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NOG shares. Piper Sandler dropped their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley cut their target price 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 raised their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. 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. Finally, Bank of America decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Hold” and a consensus target price of $44.78.

Northern Oil and Gas Stock Up 5.7 %

Shares of Northern Oil and Gas stock opened at $24.25 on Friday. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 4.72 and a beta of 1.49. The stock has a 50-day simple moving average of $29.02 and a 200-day simple moving average of $35.57. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) 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 business had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. On average, equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.42%. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio is presently 35.02%.

Northern Oil and Gas declared that its Board of Directors has approved a stock repurchase program on Tuesday, March 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Northern Oil and Gas

In related news, CEO Nicholas L. O’grady bought 1,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $27.48 per share, with a total value of $27,480.00. Following the completion of the transaction, the chief executive officer now directly owns 226,189 shares of the company’s stock, valued at $6,215,673.72. This trade represents a 0.44 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bahram Akradi purchased 40,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the transaction, the director now owns 1,662,016 shares of the company’s stock, valued at approximately $46,586,308.48. This trade represents a 2.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.80% of the company’s stock.

About Northern Oil and Gas

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.