Oxbow Advisors LLC Makes New $3.77 Million Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

Oxbow Advisors LLC bought a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 101,440 shares of the company’s stock, valued at approximately $3,770,000.

Other institutional investors also recently bought and sold shares of the company. abrdn plc acquired a new stake in shares of Northern Oil and Gas during the third quarter valued at about $17,096,000. Bridgewater Associates LP increased its position in shares of Northern Oil and Gas by 135.6% during the third quarter. Bridgewater Associates LP now owns 511,170 shares of the company’s stock valued at $18,101,000 after acquiring an additional 294,223 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Northern Oil and Gas by 41.4% during the third quarter. New York State Common Retirement Fund now owns 940,987 shares of the company’s stock valued at $33,320,000 after acquiring an additional 275,704 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Northern Oil and Gas by 58.6% in the third quarter. Jennison Associates LLC now owns 521,115 shares of the company’s stock valued at $18,453,000 after purchasing an additional 192,539 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Northern Oil and Gas by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock valued at $34,902,000 after purchasing an additional 103,314 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NOG shares. Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a report on Monday, December 16th. Capital One Financial cut shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday. Piper Sandler dropped their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Truist Financial lifted their price objective 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. Finally, Royal Bank of Canada dropped their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Hold” and a consensus target price of $47.00.

Northern Oil and Gas Trading Down 6.7 %

NYSE NOG opened at $33.01 on Friday. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a 52 week low of $32.81 and a 52 week high of $44.31. The stock has a market capitalization of $3.29 billion, a PE ratio of 6.42 and a beta of 1.81. The firm has a 50 day moving average of $37.62 and a two-hundred day moving average of $38.30.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The firm had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. As a group, research analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 dividend yield of 5.45%. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s payout ratio is currently 32.68%.

Insider Transactions at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now owns 96,223 shares in the company, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.80% of the company’s stock.

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.