Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,848 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 34.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,963 shares of the company’s stock after buying an additional 3,848 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Northern Oil and Gas were worth $555,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NOG. Strs Ohio increased its stake in shares of Northern Oil and Gas by 13.0% in the 4th quarter. Strs Ohio now owns 6,100 shares of the company’s stock worth $226,000 after purchasing an additional 700 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in Northern Oil and Gas by 1.3% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock worth $823,000 after buying an additional 290 shares in the last quarter. Phocas Financial Corp. raised its stake in shares of Northern Oil and Gas by 1.1% in the fourth quarter. Phocas Financial Corp. now owns 170,273 shares of the company’s stock worth $6,312,000 after buying an additional 1,784 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Northern Oil and Gas in the fourth quarter worth about $1,698,000. Finally, Mutual of America Capital Management LLC lifted its position in shares of Northern Oil and Gas by 69.5% during the 4th quarter. Mutual of America Capital Management LLC now owns 403,420 shares of the company’s stock valued at $14,955,000 after buying an additional 165,382 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NOG. Piper Sandler increased their target price on shares of Northern Oil and Gas from $38.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Citigroup decreased their price objective on shares of Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Thursday. Truist Financial increased their price target on Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.40.

Northern Oil and Gas Price Performance

NYSE:NOG opened at $39.67 on Thursday. The company has a market capitalization of $4.01 billion, a P/E ratio of 3.95 and a beta of 1.86. The business’s 50-day moving average is $39.38 and its 200 day moving average is $37.35. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90. Northern Oil and Gas, Inc. has a 12 month low of $29.57 and a 12 month high of $43.75.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The firm had revenue of $396.35 million during the quarter, compared to the consensus estimate of $505.67 million. During the same period in the prior year, the company earned $1.76 EPS. The company’s quarterly revenue was down 31.9% compared to the same quarter last year. On average, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.53 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a $0.40 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.03%. Northern Oil and Gas’s payout ratio is currently 15.94%.

Insider Transactions at Northern Oil and Gas

In related news, insider James B. Evans sold 3,150 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total value of $132,300.00. Following the completion of the transaction, the insider now owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total transaction of $153,675.00. Following the completion of the transaction, the chief executive officer now directly owns 228,082 shares of the company’s stock, valued at $9,346,800.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the transaction, the insider now owns 73,753 shares in the company, valued at approximately $3,097,626. The disclosure for this sale can be found here. Insiders have sold a total of 10,944 shares of company stock worth $436,614 in the last three months. 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.