Northern Oil and Gas, Inc. (NYSE:NOG) Shares Acquired by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC lifted its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 94.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,530 shares of the company's stock after acquiring an additional 26,980 shares during the quarter. Insight Wealth Strategies LLC owned 0.06% of Northern Oil and Gas worth $1,679,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in NOG. Headlands Technologies LLC bought a new stake in shares of Northern Oil and Gas in the fourth quarter valued at about $29,000. Blue Trust Inc. grew its stake in Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock valued at $44,000 after purchasing an additional 801 shares during the last quarter. Avior Wealth Management LLC grew its stake 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 purchasing an additional 259 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Northern Oil and Gas in the fourth quarter valued at about $66,000. Finally, Smartleaf Asset Management LLC grew its stake 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 purchasing an additional 1,570 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Stock Down 2.0%

Shares of NOG stock traded down $0.55 during trading hours on Friday, reaching $26.61. 1,070,970 shares of the company's stock were exchanged, compared to its average volume of 1,537,366. 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 cap of $2.63 billion, a PE ratio of 5.18 and a beta of 1.47. 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 stock's fifty day moving average price is $25.83 and its two-hundred day moving average price is $32.98.

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. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The business had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The company's revenue was up 51.9% on a year-over-year basis. Research analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

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 yield of 6.76%. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

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

Analysts Set New Price Targets

Several research firms have issued reports on NOG. Morgan Stanley cut their target price on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Raymond James reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Capital One Financial lowered Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 21st. Piper Sandler cut their target price on 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. Finally, Mizuho cut their target price on 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $39.67.

Insider Activity at Northern Oil and Gas

In related news, CEO Nicholas L. O'grady purchased 1,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $27.48 per share, with a total value of $27,480.00. Following the completion of the acquisition, the chief executive officer now owns 226,189 shares of the company's stock, valued at $6,215,673.72. The trade was a 0.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bahram Akradi purchased 40,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the acquisition, the director now directly owns 1,662,016 shares of the company's stock, valued at $46,586,308.48. This trade 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 insiders.

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.