Dimensional Fund Advisors LP Grows Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Dimensional Fund Advisors LP lifted its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,296,886 shares of the company's stock after buying an additional 68,631 shares during the quarter. Dimensional Fund Advisors LP owned about 3.30% of Northern Oil and Gas worth $122,507,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Avior Wealth Management LLC grew its holdings in Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock worth $51,000 after purchasing an additional 259 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Northern Oil and Gas by 9.1% in the 4th quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company's stock valued at $129,000 after buying an additional 289 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of Northern Oil and Gas by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock valued at $487,000 after buying an additional 298 shares during the period. Summit Investment Advisors Inc. increased its position in Northern Oil and Gas by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,378 shares of the company's stock valued at $386,000 after buying an additional 329 shares in the last quarter. Finally, Legato Capital Management LLC raised its stake in Northern Oil and Gas by 5.8% during the 4th quarter. Legato Capital Management LLC now owns 6,383 shares of the company's stock worth $237,000 after buying an additional 349 shares during the period. Institutional investors own 98.80% of the company's stock.

Insider Activity at Northern Oil and Gas

In other news, CEO Nicholas L. O'grady acquired 1,000 shares of Northern Oil and Gas stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price 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 in the company, valued at approximately $6,215,673.72. The trade was a 0.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bahram Akradi bought 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the acquisition, the director now directly owns 1,662,016 shares in the company, valued at $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.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock traded up $0.29 during midday trading on Friday, reaching $25.37. The stock had a trading volume of 424,733 shares, compared to its average volume of 1,813,767. The firm has a market capitalization of $2.51 billion, a PE ratio of 4.94 and a beta of 1.49. 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 quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. The firm's 50-day moving average price is $26.87 and its 200 day moving average price is $34.55.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 23.38% and a return on equity of 24.41%. The company's quarterly revenue was up 51.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 earnings per share. As a group, 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 declared that its board has approved a stock buyback program on Tuesday, March 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Northern Oil and Gas Dividend Announcement

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 issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.10%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's payout ratio is currently 28.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NOG shares. 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 note on Tuesday, February 25th. Truist Financial boosted their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, January 13th. 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. Bank of America reduced 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, Morgan Stanley cut their price objective on 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas has a consensus rating of "Hold" and an average price target 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.