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

Emerald Mutual Fund Advisers Trust decreased its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 36.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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.

A number of other hedge funds have also recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in shares of Northern Oil and Gas during the fourth quarter valued at $29,000. Blue Trust Inc. increased its stake in shares of Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock worth $44,000 after acquiring an additional 801 shares during the period. Avior Wealth Management LLC boosted its holdings in Northern Oil and Gas by 23.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock worth $51,000 after buying an additional 259 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Northern Oil and Gas during the 4th quarter valued at approximately $66,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Northern Oil and Gas by 297.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock worth $77,000 after purchasing an additional 1,570 shares in the last quarter. Institutional investors own 98.80% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on NOG. Truist Financial increased their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Piper Sandler decreased their price target on Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating for the company in a report on Wednesday, January 29th. Bank of America lowered 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. Morgan Stanley reduced 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. Finally, 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. One 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $43.50.

Insiders Place Their Bets

In other Northern Oil and Gas news, CEO Nicholas L. O'grady bought 1,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were purchased 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 in the company, valued at approximately $6,215,673.72. This represents a 0.44 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bahram Akradi acquired 40,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,662,016 shares in the company, valued at $46,586,308.48. This represents a 2.47 % increase in their position. 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 %

Northern Oil and Gas stock traded up $0.35 during midday trading on Friday, reaching $25.43. The stock had a trading volume of 1,749,962 shares, compared to its average volume of 1,503,655. The stock has a market capitalization of $2.51 billion, a P/E ratio of 4.95 and a beta of 1.49. The firm's fifty day simple moving average is $26.74 and its 200-day simple moving average is $34.41. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.12 by $0.21. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The company had revenue of $602.10 million for the quarter, compared to analysts' expectations of $568.87 million. During the same period last year, the firm earned $1.28 earnings per share. The business's revenue for the quarter was up 51.9% on a year-over-year basis. As a group, analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, June 27th. This represents a $1.80 annualized dividend and a dividend yield of 7.08%. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

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

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.