Northern Oil and Gas, Inc. (NYSE:NOG) Shares Purchased by Mesirow Institutional Investment Management Inc.

Mesirow Institutional Investment Management Inc. boosted its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 17.4% during the fourth quarter, Holdings Channel reports. The firm owned 29,716 shares of the company’s stock after buying an additional 4,405 shares during the quarter. Mesirow Institutional Investment Management Inc.’s holdings in Northern Oil and Gas were worth $1,104,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Northern Oil and Gas during the 4th quarter worth approximately $21,691,000. Channing Capital Management LLC raised its holdings in shares of Northern Oil and Gas by 26.8% in the fourth quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company’s stock worth $65,648,000 after acquiring an additional 373,917 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Northern Oil and Gas by 3.9% in the fourth quarter. American Century Companies Inc. now owns 6,537,596 shares of the company’s stock worth $242,937,000 after acquiring an additional 243,531 shares during the last quarter. Natixis purchased a new stake in shares of Northern Oil and Gas in the fourth quarter valued at $7,503,000. Finally, Ninepoint Partners LP acquired a new stake in shares of Northern Oil and Gas during the fourth quarter valued at $7,432,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Stock Up 5.7 %

Shares of NYSE NOG opened at $24.25 on Monday. The stock has a market capitalization of $2.40 billion, a PE ratio of 4.72 and a beta of 1.49. 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 firm has a fifty day moving average of $28.78 and a 200-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.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). The firm had revenue of $545.47 million for the quarter, compared to analysts’ expectations 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 anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.42%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s payout ratio is 35.02%.

Insider Buying and Selling

In other Northern Oil and Gas news, CEO Nicholas L. O’grady purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price 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 in the company, valued at $6,215,673.72. The trade was a 0.44 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bahram Akradi bought 40,000 shares of Northern Oil and Gas stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the purchase, the director now owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. The trade was a 2.47 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NOG has been the subject of several analyst reports. Capital One Financial downgraded shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Piper Sandler cut 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 research report on Wednesday, January 29th. Citigroup decreased their target price on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Royal Bank of Canada cut 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, Truist Financial increased their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.78.

Northern Oil and Gas 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.