Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lowered its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 63.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,462 shares of the company's stock after selling 40,893 shares during the quarter. Cresset Asset Management LLC's holdings in Northern Oil and Gas were worth $872,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings 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 worth $77,000 after acquiring an additional 1,570 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Northern Oil and Gas by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 481,797 shares of the company's stock worth $17,904,000 after acquiring an additional 11,690 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Northern Oil and Gas by 36.1% during the 4th 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 stake in Northern Oil and Gas during the 4th quarter worth approximately $909,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Northern Oil and Gas by 7.4% during the 4th 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 last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Insiders Place Their Bets

In related news, CEO Nicholas L. O'grady purchased 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the acquisition, the chief executive officer now owns 226,189 shares of the company's stock, valued at approximately $6,215,673.72. This represents a 0.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bahram Akradi acquired 40,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the transaction, the director now directly owns 1,662,016 shares in the company, valued at $46,586,308.48. The trade was 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented 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 note on Friday, February 21st. Piper Sandler reduced their price objective on shares of Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Citigroup dropped their target price on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Raymond James reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Finally, Bank of America dropped their target price on shares of Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $40.56.

Northern Oil and Gas Stock Down 1.1%

Shares of NOG traded down $0.31 during trading hours on Friday, hitting $28.43. The company had a trading volume of 1,241,774 shares, compared to its average volume of 1,534,928. The firm has a fifty day moving average price of $26.36 and a 200-day moving average price of $33.72. 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 has a market capitalization of $2.81 billion, a price-to-earnings ratio of 5.53 and a beta of 1.47. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.21. The business had revenue of $602.10 million during 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%. Northern Oil and Gas's revenue was up 51.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 EPS. On average, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas announced that its Board of Directors has authorized a share repurchase plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, June 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.33%. Northern Oil and Gas's dividend payout ratio (DPR) is presently 28.04%.

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.