Nuveen Asset Management LLC Cuts Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Nuveen Asset Management LLC reduced its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 10.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,226,479 shares of the company's stock after selling 142,233 shares during the period. Nuveen Asset Management LLC owned approximately 1.23% of Northern Oil and Gas worth $45,576,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new stake in shares of Northern Oil and Gas during the 4th quarter worth about $29,000. Blue Trust Inc. boosted its stake in shares of Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock worth $44,000 after acquiring an additional 801 shares in the last quarter. Avior Wealth Management LLC boosted its stake in shares of Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock worth $51,000 after acquiring an additional 259 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Northern Oil and Gas during the 4th quarter worth about $66,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of 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 in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Up 0.5%

Shares of Northern Oil and Gas stock traded up $0.14 during trading on Friday, hitting $26.98. 1,163,199 shares of the stock were exchanged, compared to its average volume of 1,534,332. The firm's 50-day moving average price is $26.18 and its 200 day moving average price is $33.35. Northern Oil and Gas, Inc. has a 12-month low of $19.88 and a 12-month high of $44.31. 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 cap of $2.66 billion, a price-to-earnings ratio of 5.25 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 EPS for the quarter, topping the consensus estimate of $1.12 by $0.21. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The firm had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. During the same period last year, the business earned $1.28 EPS. Northern Oil and Gas's revenue for the quarter was up 51.9% compared to the same quarter last year. As a group, 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be paid 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 6.67%. Northern Oil and Gas's dividend payout ratio is presently 28.04%.

Northern Oil and Gas declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NOG. Capital One Financial lowered shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 21st. Mizuho cut their price target on shares of 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. Piper Sandler dropped their target price on shares of Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. 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 for the company in a report on Monday, April 14th. Finally, Morgan Stanley dropped their target price on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. One 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 company's stock. According to data from MarketBeat.com, Northern Oil and Gas has a consensus rating of "Hold" and an average price target of $39.67.

Insider Buying and Selling at Northern Oil and Gas

In related news, Director Bahram Akradi acquired 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the acquisition, the director now owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. This represents a 2.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nicholas L. O'grady acquired 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 acquisition, the chief executive officer now owns 226,189 shares of the company's stock, valued at $6,215,673.72. This represents a 0.44% increase in their position. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by company 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.