10,136 Shares in Northern Oil and Gas, Inc. (NYSE:NOG) Purchased by Tidal Investments LLC

Tidal Investments LLC bought a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,136 shares of the company's stock, valued at approximately $377,000.

Other large investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake in Northern Oil and Gas by 297.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock worth $77,000 after purchasing an additional 1,570 shares during the period. Principal Financial Group Inc. grew its stake in Northern Oil and Gas by 2.5% in the fourth quarter. Principal Financial Group Inc. now owns 481,797 shares of the company's stock valued at $17,904,000 after acquiring an additional 11,690 shares during the period. State of Alaska Department of Revenue grew its stake in Northern Oil and Gas by 36.1% in the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company's stock valued at $2,877,000 after acquiring an additional 20,550 shares during the period. Proficio Capital Partners LLC acquired a new stake in Northern Oil and Gas in the fourth quarter valued at approximately $909,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Northern Oil and Gas by 7.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,058,899 shares of the company's stock valued at $39,349,000 after acquiring an additional 73,256 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock traded up $1.82 during mid-day trading on Tuesday, reaching $28.90. 1,895,604 shares of the company's stock were exchanged, compared to its average volume of 1,542,440. The business's fifty day simple moving average is $25.71 and its 200 day simple moving average is $32.75. The firm has a market capitalization of $2.85 billion, a PE ratio of 5.62 and a beta of 1.47. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.21. The firm had revenue of $602.10 million for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $1.28 earnings per share. On average, sell-side analysts expect 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 has initiated a share repurchase plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Northern Oil and Gas Dividend Announcement

The company also recently announced 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 is Friday, June 27th. This represents a $1.80 annualized dividend and a dividend yield of 6.23%. Northern Oil and Gas's payout ratio is presently 28.04%.

Insider Activity at Northern Oil and Gas

In related news, 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 purchase, the chief executive officer now owns 226,189 shares in the company, valued at $6,215,673.72. This trade represents a 0.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on NOG shares. 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 research note on Monday, April 14th. Capital One Financial cut Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 21st. Raymond James reissued a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Piper Sandler reduced their price objective 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. 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 report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas presently has an average rating of "Hold" and a consensus target price of $39.67.

About Northern Oil and Gas

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.