Hudson Bay Capital Management LP Sells 20,607 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Hudson Bay Capital Management LP lowered its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 22.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,765 shares of the company's stock after selling 20,607 shares during the quarter. Hudson Bay Capital Management LP owned 0.07% of Northern Oil and Gas worth $2,592,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOG. Vanguard Group Inc. raised its position in Northern Oil and Gas by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company's stock valued at $418,916,000 after buying an additional 166,501 shares during the period. American Century Companies Inc. lifted its position in shares of 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 purchasing an additional 243,531 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Northern Oil and Gas by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,296,886 shares of the company's stock worth $122,507,000 after purchasing an additional 68,631 shares in the last quarter. Copeland Capital Management LLC boosted its holdings in shares of Northern Oil and Gas by 0.9% during the fourth quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company's stock worth $78,590,000 after purchasing an additional 18,195 shares during the period. Finally, Channing Capital Management LLC grew its position in Northern Oil and Gas by 26.8% during the fourth quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company's stock valued at $65,648,000 after purchasing an additional 373,917 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Trading Down 2.0%

Northern Oil and Gas stock traded down $0.57 during mid-day trading on Monday, hitting $27.87. The stock had a trading volume of 227,304 shares, compared to its average volume of 1,529,836. The stock has a market capitalization of $2.75 billion, a PE ratio of 5.40 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 current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The stock has a 50-day simple moving average of $26.36 and a two-hundred day simple moving average of $33.72.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.21. The firm had revenue of $602.10 million during the quarter, compared to analysts' expectations of $568.87 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The business's revenue for the quarter was up 51.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 earnings per share. As a group, sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas announced that its board has authorized a share repurchase plan on Tuesday, March 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Northern Oil and Gas Dividend Announcement

The company also recently declared 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. This represents a $1.80 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

Insider Activity

In other Northern Oil and Gas news, CEO Nicholas L. O'grady purchased 1,000 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were bought 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. 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 available through this hyperlink. Also, Director Bahram Akradi bought 40,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the transaction, the director now owns 1,662,016 shares of the company's stock, valued at approximately $46,586,308.48. The trade was a 2.47% 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.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NOG. Piper Sandler lowered their price target on shares of 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. Bank of America cut their price target on shares of Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Morgan Stanley lowered their target price on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Capital One Financial downgraded Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. Finally, Raymond James reissued a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $40.56.

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.