Rafferty Asset Management LLC Has $4.57 Million Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Rafferty Asset Management LLC lessened its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 12.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 123,027 shares of the company's stock after selling 16,751 shares during the period. Rafferty Asset Management LLC owned 0.12% of Northern Oil and Gas worth $4,572,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOG. Hennion & Walsh Asset Management Inc. increased its position in Northern Oil and Gas by 11.9% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 30,532 shares of the company's stock worth $1,135,000 after buying an additional 3,239 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Northern Oil and Gas by 17.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,743 shares of the company's stock worth $362,000 after purchasing an additional 1,461 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in 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 worth $51,000 after buying an additional 259 shares in the last quarter. Tributary Capital Management LLC grew its holdings 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 worth $21,868,000 after acquiring an additional 62,300 shares during the period. Finally, Blue Trust Inc. grew its holdings 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. Institutional investors and hedge funds own 98.80% of the company's stock.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, CEO Nicholas L. O'grady purchased 1,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were purchased 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 $6,215,673.72. This represents a 0.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bahram Akradi bought 40,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost 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 trade represents a 2.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.90% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on NOG shares. Capital One Financial cut Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. Piper Sandler dropped their price target 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. Citigroup cut their target price on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Bank of America dropped their target price on Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Finally, Morgan Stanley cut 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 report on Thursday, March 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Northern Oil and Gas presently has a consensus rating of "Hold" and an average target price of $40.56.

Northern Oil and Gas Stock Performance

NOG traded down $0.04 during trading hours on Thursday, hitting $26.86. 1,403,789 shares of the stock were exchanged, compared to its average volume of 1,531,794. The stock has a 50-day simple moving average of $26.29 and a 200-day simple moving average of $33.58. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. Northern Oil and Gas, Inc. has a 12 month low of $19.88 and a 12 month high of $44.31. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 5.23 and a beta of 1.47.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) 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 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 business's revenue was up 51.9% on a year-over-year basis. During the same quarter last year, the business posted $1.28 EPS. Analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

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

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, June 27th. This represents a $1.80 annualized dividend and a dividend yield of 6.70%. Northern Oil and Gas's dividend payout ratio is presently 28.04%.

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.