Emerald Mutual Fund Advisers Trust Trims Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Emerald Mutual Fund Advisers Trust lowered its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 36.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 276,524 shares of the company's stock after selling 157,026 shares during the period. Emerald Mutual Fund Advisers Trust owned 0.28% of Northern Oil and Gas worth $10,276,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Northern Oil and Gas during the 4th quarter valued at $21,691,000. Channing Capital Management LLC lifted its position in Northern Oil and Gas by 26.8% during the fourth quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company's stock valued at $65,648,000 after purchasing an additional 373,917 shares during the last quarter. American Century Companies Inc. raised its position in Northern Oil and Gas by 3.9% during the fourth quarter. American Century Companies Inc. now owns 6,537,596 shares of the company's stock valued at $242,937,000 after purchasing an additional 243,531 shares in the last quarter. Natixis bought a new stake in Northern Oil and Gas during the fourth quarter worth about $7,503,000. Finally, Ninepoint Partners LP bought a new position in shares of Northern Oil and Gas during the 4th quarter valued at about $7,432,000. Hedge funds and other institutional investors own 98.80% of the company's stock.

Insider Activity

In other Northern Oil and Gas news, Director Bahram Akradi bought 40,000 shares of Northern Oil and Gas stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost 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 in the company, valued at approximately $46,586,308.48. This represents a 2.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas L. O'grady purchased 1,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were 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. Insiders own 2.90% of the company's stock.

Northern Oil and Gas Stock Up 1.4 %

NOG stock traded up $0.35 during trading on Friday, hitting $25.43. 1,749,962 shares of the stock traded hands, compared to its average volume of 1,502,033. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 4.95 and a beta of 1.49. Northern Oil and Gas, Inc. has a 1 year low of $19.88 and a 1 year high of $44.31. The firm's 50 day moving average is $26.87 and its two-hundred day moving average is $34.55.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $602.10 million during 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 firm's revenue for the quarter was up 51.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 EPS. On average, sell-side 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 authorized a stock buyback plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

Northern Oil and Gas Dividend Announcement

The business 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. This represents a $1.80 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio (DPR) is presently 28.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NOG. Citigroup lowered their price objective on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Royal Bank of Canada decreased their target price on shares of Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Monday, April 14th. Bank of America lowered their price objective on shares of 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. Truist Financial increased their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, Morgan Stanley dropped their price target 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas has a consensus rating of "Hold" and an average target price 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.