Hudson Bay Capital Management LP Lowers Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

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

Several other large investors also recently bought and sold shares of NOG. Smartleaf Asset Management LLC boosted its holdings in shares of Northern Oil and Gas by 297.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock valued at $77,000 after acquiring an additional 1,570 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Northern Oil and Gas by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 481,797 shares of the company's stock valued at $17,904,000 after acquiring an additional 11,690 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Northern Oil and Gas by 36.1% in 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 acquiring an additional 20,550 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Northern Oil and Gas in the 4th quarter valued at $909,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Northern Oil and Gas by 7.4% in 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 acquiring an additional 73,256 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America dropped their price objective 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. Capital One Financial downgraded shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. Royal Bank of Canada decreased their target price 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. 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 note on Tuesday. Finally, Citigroup decreased their target price on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Northern Oil and Gas presently has an average rating of "Hold" and an average price target of $40.56.

Northern Oil and Gas Price Performance

NYSE:NOG traded down $0.31 during trading hours on Friday, reaching $28.43. 1,241,774 shares of the company were exchanged, compared to its average volume of 1,531,506. 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's 50-day moving average is $26.36 and its 200-day moving average is $33.76. The firm has a market cap of $2.81 billion, a PE ratio of 5.53 and a beta of 1.47. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.21. The company 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 firm's revenue for the quarter was up 51.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. On average, sell-side analysts anticipate 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. Shareholders of record on Friday, June 27th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is presently 28.04%.

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

Insiders Place Their Bets

In other Northern Oil and Gas news, CEO Nicholas L. O'grady bought 1,000 shares of Northern Oil and Gas 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 represents a 0.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bahram Akradi bought 40,000 shares of Northern Oil and Gas stock in a transaction dated Tuesday, March 4th. The stock was acquired 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. 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 currently 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.