Northern Oil and Gas, Inc. (NYSE:NOG) Stake Boosted by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC raised its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 3.5% during the 4th quarter, HoldingsChannel reports. The fund owned 816,106 shares of the company’s stock after purchasing an additional 27,556 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Northern Oil and Gas were worth $30,327,000 as of its most recent SEC filing.

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

Insider Activity

In other news, CEO Nicholas L. O’grady purchased 1,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $27.48 per share, with a total value of $27,480.00. Following the completion of the purchase, the chief executive officer now directly owns 226,189 shares of the company’s stock, valued at $6,215,673.72. The trade was a 0.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bahram Akradi purchased 40,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, 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. 2.90% of the stock is currently owned by insiders.

Northern Oil and Gas Price Performance

Shares of NOG stock opened at $28.43 on Friday. 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, Inc. has a 52 week low of $19.88 and a 52 week high of $44.31. The stock has a market capitalization of $2.81 billion, a PE ratio of 5.53 and a beta of 1.47. The stock’s fifty day moving average is $26.36 and its 200-day moving average is $33.76.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.21. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The business had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The firm’s revenue for the quarter was up 51.9% compared to the same quarter last year. Equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas declared that its board has authorized a stock 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 buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.33%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 28.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NOG shares. Bank of America cut their price target on Northern Oil and Gas from $48.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Raymond James restated a “strong-buy” rating on shares of Northern Oil and Gas in a research report on Tuesday. Capital One Financial cut Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. Royal Bank of Canada lowered their price objective on Northern Oil and Gas from $40.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Monday, April 14th. Finally, Mizuho lowered their price objective on Northern Oil and Gas from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $40.56.

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.