5,545 Shares in Northern Oil and Gas, Inc. (NYSE:NOG) Purchased by Abel Hall LLC

Abel Hall LLC purchased a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,545 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOG. Legacy Investment Solutions LLC bought a new position in shares of Northern Oil and Gas in the third quarter valued at approximately $25,000. Signaturefd LLC increased its holdings in Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares in the last quarter. Quarry LP increased its holdings in Northern Oil and Gas by 338.8% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after purchasing an additional 874 shares in the last quarter. Blue Trust Inc. raised its position 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 during the last quarter. Finally, Avior Wealth Management LLC boosted 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 worth $51,000 after purchasing an additional 259 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the sale, the president now directly owns 96,223 shares of the company’s stock, valued at $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 1,836 shares of company stock worth $72,869. Insiders own 2.80% of the company’s stock.

Northern Oil and Gas Trading Up 0.9 %

Northern Oil and Gas stock opened at $37.78 on Thursday. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 4.54 and a beta of 1.85. The firm has a 50-day moving average of $39.80 and a 200-day moving average of $38.83. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $44.31.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.20. The business had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. Northern Oil and Gas’s revenue was up 140.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.73 earnings per share. On average, equities analysts expect that Northern Oil and Gas, Inc. will post 5.34 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 4.76%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 20.17%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NOG. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price objective on shares of Northern Oil and Gas in a research report on Friday, January 10th. Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a research report on Monday, December 16th. Piper Sandler cut 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 note on Wednesday. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective for the company. Finally, Truist Financial increased their target price 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, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Northern Oil and Gas has an average rating of “Hold” and an average target price of $47.56.

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.