Balyasny Asset Management L.P. Sells 10,698 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Balyasny Asset Management L.P. trimmed its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 47.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,763 shares of the company's stock after selling 10,698 shares during the period. Balyasny Asset Management L.P.'s holdings in Northern Oil and Gas were worth $437,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOG. Smartleaf Asset Management LLC boosted its stake in Northern Oil and Gas by 297.3% during the 4th 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 during the period. Principal Financial Group Inc. boosted its position in shares of Northern Oil and Gas by 2.5% in the fourth quarter. Principal Financial Group Inc. now owns 481,797 shares of the company's stock valued at $17,904,000 after acquiring an additional 11,690 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Northern Oil and Gas by 36.1% in the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company's stock worth $2,877,000 after acquiring an additional 20,550 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Northern Oil and Gas during the fourth quarter worth $909,000. Finally, Charles Schwab Investment Management Inc. increased its position in Northern Oil and Gas by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,058,899 shares of the company's stock worth $39,349,000 after acquiring an additional 73,256 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Nicholas L. O'grady acquired 1,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $27.48 per share, for a total transaction 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 $6,215,673.72. This trade 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 business's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on NOG shares. Capital One Financial lowered shares of 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 decreased their target price 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. Raymond James reaffirmed a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Citigroup reduced their price objective on 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. 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, May 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $40.56.

Northern Oil and Gas Price Performance

Shares of NYSE NOG traded down $0.54 during midday trading on Tuesday, reaching $27.72. 1,186,279 shares of the company traded hands, compared to its average volume of 1,532,685. Northern Oil and Gas, Inc. has a 12 month low of $19.88 and a 12 month high of $44.31. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The stock's 50-day simple moving average is $26.35 and its 200-day simple moving average is $33.67. The firm has a market cap of $2.74 billion, a PE ratio of 5.39 and a beta of 1.47.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released 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 firm had revenue of $602.10 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 51.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 earnings per share. As a group, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas declared that its Board of Directors has authorized a stock 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 purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Northern Oil and Gas Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.80 annualized dividend and a dividend yield of 6.49%. Northern Oil and Gas's dividend payout ratio (DPR) is currently 28.04%.

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.