30,368 Shares in Northern Oil and Gas, Inc. (NYSE:NOG) Acquired by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. bought a new stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,368 shares of the company's stock, valued at approximately $1,128,000.

Several other hedge funds have also recently made changes to their positions in NOG. Janney Montgomery Scott LLC increased its position in shares of Northern Oil and Gas by 17.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 9,743 shares of the company's stock valued at $362,000 after acquiring an additional 1,461 shares during the period. Avior Wealth Management LLC increased its position in shares of 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 valued at $51,000 after acquiring an additional 259 shares during the period. Tributary Capital Management LLC increased its position in shares of Northern Oil and Gas by 11.8% in the 4th quarter. Tributary Capital Management LLC now owns 588,487 shares of the company's stock valued at $21,868,000 after acquiring an additional 62,300 shares during the period. Blue Trust Inc. increased its position in shares of Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock valued at $44,000 after acquiring an additional 801 shares during the period. Finally, Abel Hall LLC acquired a new position in shares of Northern Oil and Gas in the 4th quarter valued at $206,000. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Price Performance

Shares of NOG traded down $0.20 during mid-day trading on Wednesday, hitting $27.30. 1,068,933 shares of the company were exchanged, compared to its average volume of 1,533,692. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 5.31 and a beta of 1.47. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $44.31. The company has a 50 day moving average of $26.04 and a 200-day moving average of $33.21. 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 data on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, topping the consensus estimate 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 return on equity of 24.41% and a net margin of 23.38%. Northern Oil and Gas's quarterly revenue was up 51.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 EPS. Analysts expect 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 initiated a share repurchase program on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is presently 28.04%.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, Director Bahram Akradi purchased 40,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Nicholas L. O'grady purchased 1,000 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the purchase, 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 disclosure for this purchase can be found here. Corporate insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NOG shares. Capital One Financial downgraded Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Mizuho reduced their price objective on Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Piper Sandler reduced their price objective on Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Bank of America lifted their price objective on Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Raymond James reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas has a consensus rating of "Hold" and an average price target of $39.67.

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.