10,039 Shares in Northern Oil and Gas, Inc. (NYSE:NOG) Bought by iSAM Funds UK Ltd

iSAM Funds UK Ltd bought a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,039 shares of the company’s stock, valued at approximately $373,000.

A number of other hedge funds have also bought and sold shares of the company. Headlands Technologies LLC bought a new stake in Northern Oil and Gas in the fourth quarter valued at $29,000. Blue Trust Inc. increased its stake in Northern Oil and Gas by 177.2% in the fourth 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 increased its stake in Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after purchasing an additional 259 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Northern Oil and Gas in the fourth quarter valued at $66,000. Finally, Smartleaf Asset Management LLC increased its stake in 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 purchasing an additional 1,570 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Down 1.9%

Northern Oil and Gas stock opened at $27.72 on Wednesday. Northern Oil and Gas, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $44.31. The stock has a market cap of $2.74 billion, a PE ratio of 5.39 and a beta of 1.47. The firm’s 50-day simple moving average is $26.34 and its 200 day simple moving average is $33.63. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.21. The firm had revenue of $602.10 million for the quarter, compared to analysts’ expectations of $568.87 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The company’s quarterly revenue was up 51.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.28 earnings per share. Research analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.49%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas’s payout ratio is 28.04%.

Northern Oil and Gas announced that its board has authorized a share buyback program on Tuesday, March 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Morgan Stanley decreased their price target on shares of Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Citigroup decreased their target price 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. Mizuho decreased their target price on shares of Northern Oil and Gas from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Raymond James reissued a “strong-buy” rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Finally, Bank of America decreased 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 report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.56.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, CEO Nicholas L. O’grady purchased 1,000 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $27.48 per share, with a total value of $27,480.00. Following the completion of the transaction, the chief executive officer now directly owns 226,189 shares in the company, valued at approximately $6,215,673.72. This trade represents a 0.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bahram Akradi purchased 40,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the transaction, the director now owns 1,662,016 shares of the company’s stock, valued at approximately $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. Corporate insiders own 2.90% of the company’s stock.

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.