Aptus Capital Advisors LLC Has $8.65 Million Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Aptus Capital Advisors LLC increased its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 22.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,852 shares of the company's stock after purchasing an additional 42,784 shares during the period. Aptus Capital Advisors LLC owned approximately 0.23% of Northern Oil and Gas worth $8,653,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of Northern Oil and Gas by 21.0% in the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company's stock valued at $79,000 after purchasing an additional 368 shares during the period. Doliver Advisors LP boosted its position in Northern Oil and Gas by 2.9% during the 4th quarter. Doliver Advisors LP now owns 28,667 shares of the company's stock worth $1,065,000 after acquiring an additional 800 shares during the last quarter. Insight Wealth Strategies LLC raised its holdings in shares of Northern Oil and Gas by 2.7% in the fourth quarter. Insight Wealth Strategies LLC now owns 28,550 shares of the company's stock valued at $1,061,000 after purchasing an additional 751 shares during the last quarter. Range Financial Group LLC bought a new stake in shares of Northern Oil and Gas in the fourth quarter worth $332,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in Northern Oil and Gas by 1.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 141,100 shares of the company's stock worth $5,243,000 after purchasing an additional 2,636 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Nicholas L. O'grady acquired 1,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was acquired 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 of the company's stock, valued at $6,215,673.72. This trade represents a 0.44 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bahram Akradi bought 40,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the completion of the acquisition, the director now owns 1,662,016 shares in the company, 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. Company insiders own 2.90% of the company's stock.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock traded up $0.21 during trading hours on Friday, hitting $26.51. The company had a trading volume of 756,767 shares, compared to its average volume of 1,508,921. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31. The firm has a market cap of $2.62 billion, a PE ratio of 5.16 and a beta of 1.47. The firm has a 50-day moving average of $26.25 and a 200 day moving average of $34.11. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. During the same period in the prior year, the firm posted $1.28 EPS. The company's revenue for the quarter was up 51.9% on a year-over-year basis. On average, sell-side 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 of Directors has authorized a share buyback plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.79%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 29th. Truist Financial increased their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Capital One Financial lowered 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 dropped 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 note on Monday, April 14th. Finally, Morgan Stanley dropped their price target on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $43.50.

About Northern Oil and Gas

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.