Voloridge Investment Management LLC Invests $1.68 Million in Northern Oil and Gas, Inc. (NYSE:NOG)

Voloridge Investment Management LLC purchased a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 45,301 shares of the company's stock, valued at approximately $1,683,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its position 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 worth $77,000 after acquiring an additional 1,570 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Northern Oil and Gas by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 481,797 shares of the company's stock valued at $17,904,000 after purchasing an additional 11,690 shares during the period. State of Alaska Department of Revenue increased its position in Northern Oil and Gas by 36.1% during the 4th quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company's stock valued at $2,877,000 after buying an additional 20,550 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Northern Oil and Gas in the fourth quarter worth $909,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Northern Oil and Gas by 7.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,058,899 shares of the company's stock worth $39,349,000 after acquiring an additional 73,256 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Nicholas L. O'grady bought 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bahram Akradi bought 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price 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 of the company's stock, valued at $46,586,308.48. This represents a 2.47% increase in their position. The disclosure for this purchase can be found here. 2.90% of the stock is owned by company insiders.

Northern Oil and Gas Price Performance

Shares of Northern Oil and Gas stock traded up $0.91 during trading hours on Monday, hitting $27.49. The company's stock had a trading volume of 186,602 shares, compared to its average volume of 1,534,492. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The company has a market cap of $2.71 billion, a PE ratio of 5.35 and a beta of 1.47. Northern Oil and Gas, Inc. has a 12-month low of $19.88 and a 12-month high of $44.31. The business has a 50 day moving average price of $25.83 and a two-hundred day moving average price of $32.87.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.21. The company had revenue of $602.10 million for the quarter, compared to the consensus estimate of $568.87 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. 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 earnings per share. Analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

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

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.55%. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NOG. Raymond James reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Mizuho cut their price target on Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Royal Bank of Canada cut their price target on Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating for the company in a report on Monday, April 14th. Capital One Financial lowered Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. Finally, Bank of America boosted their price target on Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas currently has an average rating of "Hold" and an average target price of $39.67.

Northern Oil and Gas 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.