Teza Capital Management LLC Boosts Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Teza Capital Management LLC raised its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 85.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 47,348 shares of the company's stock after purchasing an additional 21,834 shares during the quarter. Teza Capital Management LLC's holdings in Northern Oil and Gas were worth $1,759,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of Northern Oil and Gas during the 4th quarter valued at about $29,000. Blue Trust Inc. increased its stake 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 valued at $44,000 after purchasing an additional 801 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Northern Oil and Gas by 23.3% during 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. bought a new stake in shares of Northern Oil and Gas in the 4th quarter worth approximately $66,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Northern Oil and Gas by 297.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock worth $77,000 after buying an additional 1,570 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NOG shares. Bank of America dropped their target price on shares of Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Royal Bank of Canada reduced their price objective 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 research report on Friday, February 21st. Citigroup dropped their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Finally, Morgan Stanley lowered their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Northern Oil and Gas has a consensus rating of "Hold" and a consensus target price of $40.56.

Northern Oil and Gas Stock Performance

Shares of NOG traded down $0.02 on Friday, reaching $26.82. The company's stock had a trading volume of 396,161 shares, compared to its average volume of 1,528,362. The stock's 50 day simple moving average is $26.24 and its two-hundred day simple moving average is $33.52. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The stock has a market capitalization of $2.65 billion, a P/E ratio of 5.22 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.

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 the consensus estimate of $1.12 by $0.21. The business had revenue of $602.10 million for 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%. The company's revenue was up 51.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 EPS. Research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.71%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is presently 28.04%.

Northern Oil and Gas declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Northern Oil and Gas

In other news, CEO Nicholas L. O'grady purchased 1,000 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now directly owns 226,189 shares in the company, valued at $6,215,673.72. This trade represents a 0.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bahram Akradi acquired 40,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were 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 in the company, valued at approximately $46,586,308.48. This trade represents a 2.47% 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.