Gotham Asset Management LLC Makes New Investment 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) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 101,408 shares of the company's stock, valued at approximately $3,768,000. Gotham Asset Management LLC owned approximately 0.10% of Northern Oil and Gas at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC increased 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 buying an additional 1,570 shares in the last quarter. Principal Financial Group Inc. increased its position in Northern Oil and Gas by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 481,797 shares of the company's stock valued at $17,904,000 after buying an additional 11,690 shares in the last quarter. State of Alaska Department of Revenue increased its position in Northern Oil and Gas by 36.1% during the 4th quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company's stock valued at $2,877,000 after buying an additional 20,550 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Northern Oil and Gas during the 4th quarter valued at about $909,000. Finally, Charles Schwab Investment Management Inc. increased its position in Northern Oil and Gas by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,058,899 shares of the company's stock valued at $39,349,000 after buying an additional 73,256 shares in the last quarter. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Price Performance

NYSE NOG traded down $0.41 during trading hours on Monday, reaching $28.02. The company's stock had a trading volume of 719,344 shares, compared to its average volume of 1,531,851. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 5.45 and a beta of 1.47. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year 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 company's 50-day moving average is $26.36 and its two-hundred day moving average is $33.72.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $602.10 million during the quarter, compared to analysts' expectations of $568.87 million. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The business's revenue was up 51.9% compared to the same quarter last year. On average, equities analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

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 issued a dividend of $0.45 per share. The ex-dividend date is Friday, June 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.42%. Northern Oil and Gas's payout ratio is currently 28.04%.

Northern Oil and Gas announced that its board has initiated a stock repurchase program on Tuesday, March 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NOG shares. Mizuho reduced 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. Capital One Financial cut Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Royal Bank of Canada lowered their price target on Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating for the company in a research report on Monday, April 14th. Piper Sandler lowered their price target on Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Bank of America lowered their price target on Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $40.56.

Insider Buying and Selling at Northern Oil and Gas

In related news, CEO Nicholas L. O'grady purchased 1,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the transaction, the chief executive officer now directly owns 226,189 shares of the company's stock, valued at approximately $6,215,673.72. This trade represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bahram Akradi purchased 40,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the transaction, the director now directly owns 1,662,016 shares of the company's stock, valued at approximately $46,586,308.48. This represents a 2.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.90% of the company's stock.

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.