Natixis Makes New Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

Natixis bought a new position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 201,900 shares of the company's stock, valued at approximately $7,503,000. Natixis owned 0.20% of Northern Oil and Gas at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Northern Oil and Gas by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,296,886 shares of the company's stock valued at $122,507,000 after buying an additional 68,631 shares during the last quarter. First Trust Advisors LP grew its holdings in Northern Oil and Gas by 17.0% during the 4th quarter. First Trust Advisors LP now owns 492,362 shares of the company's stock worth $18,296,000 after acquiring an additional 71,545 shares in the last quarter. Marshall Wace LLP increased its position in shares of Northern Oil and Gas by 9.7% in the 4th quarter. Marshall Wace LLP now owns 9,540 shares of the company's stock worth $355,000 after purchasing an additional 840 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Northern Oil and Gas in the 4th quarter valued at about $6,423,000. Finally, Mariner LLC lifted its position in shares of Northern Oil and Gas by 8.6% during the fourth quarter. Mariner LLC now owns 24,746 shares of the company's stock worth $920,000 after purchasing an additional 1,950 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NOG. Morgan Stanley cut their price objective on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Truist Financial upped their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, January 13th. 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. Piper Sandler dropped their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, January 29th. Finally, Citigroup decreased their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $43.50.

Insider Buying and Selling at Northern Oil and Gas

In other news, Director Bahram Akradi acquired 40,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $28.03 per share, with a total value of $1,121,200.00. Following the purchase, the director now 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas L. O'grady acquired 1,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $27.48 per share, with a total value of $27,480.00. Following the acquisition, the chief executive officer now 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 disclosure for this purchase can be found here. 2.90% of the stock is owned by corporate insiders.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock traded up $0.39 during midday trading on Friday, reaching $24.14. 1,158,326 shares of the stock traded hands, compared to its average volume of 1,485,899. Northern Oil and Gas, Inc. has a fifty-two week low of $19.88 and a fifty-two 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. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 4.70 and a beta of 1.49. The firm has a fifty day moving average price of $27.64 and a two-hundred day moving average price of $34.95.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The business had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. On average, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.46%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's dividend payout ratio is currently 35.02%.

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

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.