201,900 Shares in Northern Oil and Gas, Inc. (NYSE:NOG) Acquired by Natixis

Natixis purchased a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the 4th quarter, Holdings Channel reports. The firm purchased 201,900 shares of the company’s stock, valued at approximately $7,503,000.

A number of other institutional investors also recently made changes to their positions in NOG. Headlands Technologies LLC acquired a new stake in shares of Northern Oil and Gas during the fourth quarter valued at $29,000. Blue Trust Inc. lifted its holdings in Northern Oil and Gas by 177.2% in 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 boosted its stake in shares of Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after purchasing an additional 259 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Northern Oil and Gas during the fourth quarter worth about $66,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Northern Oil and Gas by 297.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company’s stock valued at $77,000 after buying an additional 1,570 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Northern Oil and Gas

In other news, CEO Nicholas L. O’grady bought 1,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the purchase, the chief executive officer now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bahram Akradi purchased 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost 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 in the company, valued at $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. 2.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on NOG shares. Bank of America lowered their target price on shares of Northern Oil and Gas from $48.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Piper Sandler lowered their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Citigroup decreased their price target on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Royal Bank of Canada lowered their price target on Northern Oil and Gas from $40.00 to $34.00 and set a “sector perform” rating for the company in a report on Monday, April 14th. Finally, 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. 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.78.

Northern Oil and Gas Price Performance

NOG opened at $24.25 on Monday. The company has a 50 day moving average of $28.78 and a two-hundred day moving average of $35.45. 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 quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. The company has a market cap of $2.40 billion, a P/E ratio of 4.72 and a beta of 1.49.

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

Northern Oil and Gas announced that its board has initiated a stock repurchase program on Tuesday, March 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership 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. Investors of record on Friday, March 28th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, March 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 7.42%. Northern Oil and Gas’s payout ratio is 35.02%.

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.