Gotham Asset Management LLC Takes Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Gotham Asset Management LLC bought a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 101,408 shares of the company's stock, valued at approximately $3,768,000. Gotham Asset Management LLC owned 0.10% of Northern Oil and Gas as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Northern Oil and Gas in the fourth quarter worth $21,691,000. Channing Capital Management LLC raised its stake in Northern Oil and Gas by 26.8% during the 4th quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company's stock worth $65,648,000 after buying an additional 373,917 shares during the period. American Century Companies Inc. boosted its holdings in Northern Oil and Gas by 3.9% in the fourth quarter. American Century Companies Inc. now owns 6,537,596 shares of the company's stock worth $242,937,000 after acquiring an additional 243,531 shares in the last quarter. Natixis bought a new position in Northern Oil and Gas in the fourth quarter worth approximately $7,503,000. Finally, Ninepoint Partners LP acquired a new stake in Northern Oil and Gas in the fourth quarter valued at approximately $7,432,000. Institutional investors and hedge funds own 98.80% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Northern Oil and Gas news, CEO Nicholas L. O'grady acquired 1,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was acquired at an average price 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 in the company, valued at $6,215,673.72. This represents a 0.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bahram Akradi bought 40,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director now owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. This trade represents a 2.47% increase in their position. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by corporate insiders.

Northern Oil and Gas Stock Performance

Shares of NOG traded down $0.23 on Tuesday, reaching $28.03. 310,486 shares of the company's stock traded hands, compared to its average volume of 1,529,385. The stock's 50 day simple moving average is $26.35 and its two-hundred day simple moving average is $33.67. The stock has a market cap of $2.77 billion, a PE ratio of 5.45 and a beta of 1.47. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.21. The business had revenue of $602.10 million during 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 for the quarter was up 51.9% on a year-over-year basis. During the same period last year, the business posted $1.28 earnings per share. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.42%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio (DPR) is 28.04%.

Northern Oil and Gas announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

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.