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

Aptus Capital Advisors LLC grew its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 22.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 232,852 shares of the company's stock after buying an additional 42,784 shares during the quarter. Aptus Capital Advisors LLC owned 0.23% of Northern Oil and Gas worth $8,653,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Northern Oil and Gas by 21.0% in the fourth 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 grew its position in shares of Northern Oil and Gas by 2.9% in the fourth quarter. Doliver Advisors LP now owns 28,667 shares of the company's stock valued at $1,065,000 after purchasing an additional 800 shares during the period. Insight Wealth Strategies LLC increased its stake in shares of Northern Oil and Gas by 2.7% during the 4th quarter. Insight Wealth Strategies LLC now owns 28,550 shares of the company's stock valued at $1,061,000 after acquiring an additional 751 shares during the last quarter. Range Financial Group LLC purchased a new position in shares of Northern Oil and Gas during the 4th quarter worth about $332,000. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Northern Oil and Gas by 1.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 141,100 shares of the company's stock worth $5,243,000 after acquiring an additional 2,636 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Insider Activity

In other news, CEO Nicholas L. O'grady acquired 1,000 shares of Northern Oil and Gas stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $27.48 per share, with a total value of $27,480.00. Following the completion of the purchase, the chief executive officer now owns 226,189 shares of the company's stock, valued at $6,215,673.72. This represents a 0.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 price of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the acquisition, 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. 2.90% of the stock is owned by insiders.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG traded down $0.03 during midday trading on Wednesday, hitting $24.43. 1,245,163 shares of the company's stock were exchanged, compared to its average volume of 1,507,011. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The firm has a market cap of $2.41 billion, a P/E ratio of 4.75 and a beta of 1.47. The stock's 50 day moving average price is $26.44 and its 200-day moving average price is $34.26. 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 results on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.21. The company had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The company's quarterly revenue was up 51.9% compared to the same quarter last year. During the same period last year, the company earned $1.28 earnings per share. Equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas declared that its board has approved a share repurchase program on Tuesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be given a $0.45 dividend. The ex-dividend date is Friday, June 27th. This represents a $1.80 dividend on an annualized basis and a yield of 7.37%. Northern Oil and Gas's dividend payout ratio (DPR) is 28.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NOG shares. 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 note on Wednesday, January 29th. Capital One Financial downgraded Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. Morgan Stanley lowered their target price on 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. Bank of America lowered their price objective on Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, Truist Financial upped their target price 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Northern Oil and Gas presently has a consensus rating of "Hold" and a consensus price target of $43.50.

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.