Dynamic Technology Lab Private Ltd Takes $1.24 Million Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Dynamic Technology Lab Private Ltd purchased a new position in Northern Oil and Gas, Inc. (NYSE:NOG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 33,245 shares of the company’s stock, valued at approximately $1,235,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new position in shares of Northern Oil and Gas during the third quarter worth approximately $25,000. Headlands Technologies LLC purchased a new position in Northern Oil and Gas during the 4th quarter worth $29,000. Blue Trust Inc. raised its position in Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after purchasing an additional 801 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Northern Oil and Gas by 23.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after buying an additional 259 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Northern Oil and Gas during the 4th quarter worth $66,000. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Down 10.1 %

Shares of NOG stock opened at $23.35 on Friday. The stock’s fifty day moving average price is $32.05 and its 200 day moving average price is $36.60. Northern Oil and Gas, Inc. has a 1-year low of $22.50 and a 1-year high of $44.31. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 4.54 and a beta of 1.49. 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 issued its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). The business had revenue of $545.47 million for the quarter, compared to analysts’ expectations of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. On average, 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 announced that its board has approved a stock repurchase plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be issued a $0.45 dividend. The ex-dividend date is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.71%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 35.02%.

Insider Transactions at Northern Oil and Gas

In other news, Director Bahram Akradi bought 40,000 shares of Northern Oil and Gas stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the purchase, the director now directly owns 1,662,016 shares of the company’s stock, valued at approximately $46,586,308.48. The trade was a 2.47 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Adam A. Dirlam sold 836 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now directly owns 96,223 shares in the company, valued at $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada lowered 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 research note on Thursday, February 13th. Citigroup lowered their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Morgan Stanley cut 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 report on Thursday, March 27th. Piper Sandler dropped their target price on 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. Finally, Truist Financial lifted their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Northern Oil and Gas has an average rating of “Hold” and an average target price of $45.44.

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.