Woodline Partners LP Purchases Shares of 26,825 Northern Oil and Gas, Inc. (NYSE:NOG)

Woodline Partners LP bought a new position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 26,825 shares of the company's stock, valued at approximately $997,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. iSAM Funds UK Ltd purchased a new stake in Northern Oil and Gas in the 4th quarter valued at about $373,000. Tidal Investments LLC purchased a new stake in Northern Oil and Gas in the 4th quarter valued at about $377,000. Teza Capital Management LLC increased its stake in Northern Oil and Gas by 85.6% in the 4th quarter. Teza Capital Management LLC now owns 47,348 shares of the company's stock valued at $1,759,000 after buying an additional 21,834 shares during the last quarter. State of Wyoming purchased a new stake in Northern Oil and Gas in the 4th quarter valued at about $172,000. Finally, Snowden Capital Advisors LLC increased its stake in Northern Oil and Gas by 7.5% in the 4th quarter. Snowden Capital Advisors LLC now owns 15,210 shares of the company's stock valued at $572,000 after buying an additional 1,060 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Stock Performance

NOG traded down $0.12 on Thursday, hitting $27.20. The company's stock had a trading volume of 1,691,358 shares, compared to its average volume of 1,534,320. The company's 50 day simple moving average is $25.99 and its 200-day simple moving average is $33.17. The firm has a market cap of $2.68 billion, a P/E ratio of 5.29 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. 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 released its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.12 by $0.21. The company had revenue of $602.10 million during the quarter, compared to the consensus estimate of $568.87 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. Northern Oil and Gas's revenue for the quarter was up 51.9% on a year-over-year basis. During the same period last year, the firm earned $1.28 EPS. Analysts forecast that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors 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. Investors of record on Friday, June 27th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 6.62%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's dividend payout ratio (DPR) is presently 28.04%.

Insider Buying and Selling

In other Northern Oil and Gas news, Director Bahram Akradi acquired 40,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following 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 accessible through the SEC website. Also, CEO Nicholas L. O'grady purchased 1,000 shares of the business's stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $27.48 per share, with a total value of $27,480.00. Following the completion of the acquisition, the chief executive officer now owns 226,189 shares in the company, valued at approximately $6,215,673.72. This trade represents a 0.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

NOG has been the subject of several analyst reports. 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. Morgan Stanley decreased their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Royal Bank of Canada decreased their price objective on shares of 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. Piper Sandler decreased their price target on shares of 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, Bank of America raised their price target on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas has an average rating of "Hold" and an average price target of $39.67.

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.