Brevan Howard Capital Management LP Takes Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Brevan Howard Capital Management LP purchased a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 27,923 shares of the company's stock, valued at approximately $1,038,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Northern Oil and Gas by 21.0% during the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company's stock worth $79,000 after purchasing an additional 368 shares during the period. Range Financial Group LLC acquired a new stake in shares of Northern Oil and Gas in the fourth quarter valued at about $332,000. Harbor Capital Advisors Inc. raised its position in shares of 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 acquiring an additional 2,636 shares during the last quarter. Heritage Family Offices LLP bought a new stake in Northern Oil and Gas in the fourth quarter valued at approximately $244,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in Northern Oil and Gas by 11.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 30,532 shares of the company's stock valued at $1,135,000 after purchasing an additional 3,239 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Stock Up 0.9 %

Shares of NOG traded up $0.23 during trading hours on Friday, reaching $26.53. The stock had a trading volume of 1,482,419 shares, compared to its average volume of 1,512,586. The firm has a 50-day simple moving average of $26.23 and a 200 day simple moving average of $34.01. 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 current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 5.16 and a beta of 1.47.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share 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 business's quarterly revenue was up 51.9% compared to the same quarter last year. During the same period last year, the firm earned $1.28 earnings per share. Equities research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business 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 dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

Northern Oil and Gas announced that its board has approved a share buyback program on Tuesday, March 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

NOG has been the subject of several recent analyst reports. Capital One Financial cut shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Morgan Stanley lowered their price objective on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. 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 report on Wednesday, January 29th. Bank of America lowered their target price 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. Finally, Citigroup cut their price target on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $43.50.

Insider Transactions at Northern Oil and Gas

In other news, Director Bahram Akradi bought 40,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the completion of the acquisition, the director now directly 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas L. O'grady bought 1,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the purchase, the chief executive officer now directly owns 226,189 shares in the company, valued at approximately $6,215,673.72. The trade was a 0.44 % 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 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.