26,825 Shares in Northern Oil and Gas, Inc. (NYSE:NOG) Purchased by Woodline Partners LP

Woodline Partners LP bought a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 26,825 shares of the company's stock, valued at approximately $997,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Headlands Technologies LLC bought a new stake in Northern Oil and Gas during the 4th quarter valued at $29,000. Blue Trust Inc. raised its position in Northern Oil and Gas by 177.2% during the 4th 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 raised its position in 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 valued at $51,000 after purchasing an additional 259 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Northern Oil and Gas during the 4th quarter valued at $66,000. Finally, Smartleaf Asset Management LLC raised its position in 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 valued at $77,000 after purchasing an additional 1,570 shares in the last quarter. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Stock Down 2.0%

NOG stock traded down $0.55 on Friday, hitting $26.61. 1,070,970 shares of the company's stock were exchanged, compared to its average volume of 1,539,718. Northern Oil and Gas, Inc. has a 12-month low of $19.88 and a 12-month high of $44.31. The firm has a 50 day moving average price of $25.83 and a two-hundred day moving average price of $32.92. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The stock has a market cap of $2.63 billion, a P/E ratio of 5.18 and a beta of 1.47.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its 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. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The firm had revenue of $602.10 million for the quarter, compared to the consensus estimate of $568.87 million. During the same period in the previous year, the business earned $1.28 EPS. The firm's revenue for the quarter was up 51.9% on a year-over-year basis. As a group, equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, June 27th. This represents a $1.80 annualized dividend and a yield of 6.76%. Northern Oil and Gas's dividend payout ratio (DPR) is 28.04%.

Northern Oil and Gas announced that its board has authorized a stock buyback 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 stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NOG. Mizuho decreased their target price on Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Citigroup cut their price target on 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. Morgan Stanley cut their price target on 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. Bank of America lifted their price target on Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Piper Sandler cut their price target on Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $39.67.

Insider Buying and Selling

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