Aquatic Capital Management LLC Increases Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Aquatic Capital Management LLC lifted its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 453.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,210 shares of the company's stock after purchasing an additional 31,310 shares during the period. Aquatic Capital Management LLC's holdings in Northern Oil and Gas were worth $1,420,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new position in shares of Northern Oil and Gas during the 4th quarter valued at $5,906,000. Pingora Partners LLC purchased a new stake in Northern Oil and Gas during the fourth quarter valued at about $308,000. Van Den Berg Management I Inc. lifted its holdings in Northern Oil and Gas by 1.2% during the fourth quarter. Van Den Berg Management I Inc. now owns 36,895 shares of the company's stock valued at $1,371,000 after purchasing an additional 446 shares during the last quarter. Voya Investment Management LLC boosted its position in Northern Oil and Gas by 1.4% during the fourth quarter. Voya Investment Management LLC now owns 917,019 shares of the company's stock worth $34,076,000 after purchasing an additional 12,257 shares during the period. Finally, Syon Capital LLC purchased a new position in shares of Northern Oil and Gas in the fourth quarter worth about $214,000. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Price Performance

NYSE NOG traded down $0.88 during trading on Monday, reaching $24.57. The company's stock had a trading volume of 356,032 shares, compared to its average volume of 1,812,564. The stock has a market capitalization of $2.43 billion, a PE ratio of 4.78 and a beta of 1.49. 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 firm has a fifty day moving average of $26.74 and a 200 day moving average of $34.41. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year 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 the consensus estimate of $1.12 by $0.21. The company had revenue of $602.10 million for 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%. Northern Oil and Gas's revenue for the quarter was up 51.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 earnings per share. Analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

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

Northern Oil and Gas Announces Dividend

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 given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.80 dividend on an annualized basis and a yield of 7.33%. Northern Oil and Gas's payout ratio is 28.04%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Citigroup cut their price objective 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. Bank of America reduced 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. Piper Sandler dropped their price objective on 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. Royal Bank of Canada cut their target price on 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. Finally, Morgan Stanley decreased their price target on 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $43.50.

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.