Heritage Family Offices LLP Invests $244,000 in Northern Oil and Gas, Inc. (NYSE:NOG)

Heritage Family Offices LLP purchased a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,561 shares of the company’s stock, valued at approximately $244,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of Northern Oil and Gas during the 3rd quarter worth $25,000. Signaturefd LLC raised its stake in Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after purchasing an additional 427 shares during the period. Quarry LP grew its stake in shares of Northern Oil and Gas by 338.8% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after buying an additional 874 shares during the period. GAMMA Investing LLC grew its stake in shares of Northern Oil and Gas by 58.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock valued at $62,000 after buying an additional 647 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after buying an additional 1,048 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Insider Buying and Selling

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the sale, the president now directly owns 96,223 shares in the company, valued at $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,836 shares of company stock worth $72,869 over the last 90 days. 2.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on NOG shares. Piper Sandler lowered their price objective on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 price objective on shares of Northern Oil and Gas in a research report on Friday, January 10th. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price on the stock. Truist Financial lifted 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 research report on Monday. Finally, Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $41.77 on Thursday. The firm has a 50 day moving average of $39.99 and a two-hundred day moving average of $38.75. The stock has a market capitalization of $4.17 billion, a PE ratio of 5.01 and a beta of 1.85. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.20 by $0.20. The firm had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. Northern Oil and Gas’s revenue for the quarter was up 140.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.73 EPS. On average, research analysts predict that Northern Oil and Gas, Inc. will post 5.39 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 4.02%. Northern Oil and Gas’s dividend payout ratio (DPR) is 20.17%.

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.