Northern Oil and Gas, Inc. (NYSE:NOG) Shares Acquired by GTS Securities LLC

GTS Securities LLC increased its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 238.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,318 shares of the company's stock after purchasing an additional 15,718 shares during the period. GTS Securities LLC's holdings in Northern Oil and Gas were worth $829,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Northern Oil and Gas in the fourth quarter valued at approximately $29,000. Blue Trust Inc. raised its holdings in shares of Northern Oil and Gas by 177.2% during the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock worth $44,000 after purchasing an additional 801 shares during the last quarter. Avior Wealth Management LLC increased its holdings in Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock valued at $51,000 after buying an additional 259 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Northern Oil and Gas in the fourth quarter valued at $66,000. Finally, Smartleaf Asset Management LLC increased its holdings in Northern Oil and Gas by 297.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock valued at $77,000 after buying an additional 1,570 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Stock Down 2.7%

Shares of NYSE NOG traded down $0.74 during mid-day trading on Friday, reaching $26.42. The company had a trading volume of 256,779 shares, compared to its average volume of 1,532,475. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The firm has a 50 day simple moving average of $25.91 and a two-hundred day simple moving average of $33.07. The stock has a market cap of $2.61 billion, a P/E ratio of 5.13 and a beta of 1.47. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $602.10 million during the quarter, compared to analysts' expectations of $568.87 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. Northern Oil and Gas's quarterly revenue was up 51.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 EPS. Sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

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. This represents a $1.80 annualized dividend and a dividend yield of 6.81%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's payout ratio is 28.04%.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NOG. Royal Bank of Canada dropped 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 report on Monday, April 14th. Morgan Stanley decreased their target price on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Raymond James reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Mizuho reduced their price target on shares of Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Piper Sandler reduced their price target on shares of Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $39.67.

Insider Activity

In other Northern Oil and Gas news, CEO Nicholas L. O'grady bought 1,000 shares of the business's stock in a transaction on Friday, March 7th. The stock was bought at an average price 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 in the company, valued at approximately $6,215,673.72. The trade was a 0.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bahram Akradi bought 40,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $28.03 per share, with a total value of $1,121,200.00. Following the transaction, the director now owns 1,662,016 shares of the company's stock, valued at $46,586,308.48. The trade was 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 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.