Expect Equity LLC Makes New Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

Expect Equity LLC acquired a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 68,500 shares of the company's stock, valued at approximately $2,545,000. Northern Oil and Gas makes up 2.7% of Expect Equity LLC's investment portfolio, making the stock its 13th biggest position. Expect Equity LLC owned about 0.07% of Northern Oil and Gas at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Headlands Technologies LLC purchased a new position in Northern Oil and Gas in the 4th quarter worth about $29,000. Blue Trust Inc. increased its stake in Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock worth $44,000 after purchasing an additional 801 shares in the last quarter. Avior Wealth Management LLC increased its stake in Northern Oil and Gas by 23.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock worth $51,000 after purchasing an additional 259 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Northern Oil and Gas in the 4th quarter worth about $66,000. Finally, Smartleaf Asset Management LLC grew its stake 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 valued at $77,000 after acquiring an additional 1,570 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NOG shares. Capital One Financial cut Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 21st. Citigroup lowered their target price on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Piper Sandler lowered 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 note on Wednesday, January 29th. Royal Bank of Canada lowered their target price on 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. Finally, Morgan Stanley lowered 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 analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $43.50.

Northern Oil and Gas Stock Up 0.9%

Northern Oil and Gas stock traded up $0.23 during midday trading 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's fifty day simple moving average is $26.23 and its 200-day simple moving average is $33.99. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $44.31. The stock has a market capitalization of $2.62 billion, a P/E ratio of 5.16 and a beta of 1.47. 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 (NYSE:NOG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 24.41% and a net margin of 23.38%. The business's quarterly 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. 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.80 annualized dividend and a dividend yield of 6.78%. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

Northern Oil and Gas declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, Director Bahram Akradi acquired 40,000 shares of the company's 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 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nicholas L. O'grady acquired 1,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $27.48 per share, with a total value of $27,480.00. Following the completion of the transaction, the chief executive officer now owns 226,189 shares in the company, valued at $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. 2.90% of the stock is currently owned by corporate insiders.

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.