Silvercrest Asset Management Group LLC Has $30.33 Million Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Silvercrest Asset Management Group LLC raised its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 816,106 shares of the company's stock after purchasing an additional 27,556 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.82% of Northern Oil and Gas worth $30,327,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NOG. Raymond James Financial Inc. bought a new position in Northern Oil and Gas during the fourth quarter valued at about $21,691,000. Channing Capital Management LLC lifted its holdings in Northern Oil and Gas by 26.8% in the 4th quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company's stock valued at $65,648,000 after acquiring an additional 373,917 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Northern Oil and Gas by 3.9% in the 4th 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 during the last quarter. Natixis bought a new stake in shares of Northern Oil and Gas in the 4th quarter worth approximately $7,503,000. Finally, Ninepoint Partners LP acquired a new stake in Northern Oil and Gas during the fourth quarter valued at approximately $7,432,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Down 1.1%

Shares of Northern Oil and Gas stock traded down $0.31 during midday trading on Thursday, hitting $26.59. The company's stock had a trading volume of 471,427 shares, compared to its average volume of 1,528,205. 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 quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $2.62 billion, a P/E ratio of 5.17 and a beta of 1.47. The stock has a 50-day simple moving average of $26.29 and a 200-day simple moving average of $33.58.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $602.10 million during the quarter, compared to the consensus estimate of $568.87 million. During the same period in the prior year, the business earned $1.28 EPS. The business's revenue for the quarter was up 51.9% on a year-over-year basis. As a group, sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's dividend payout ratio (DPR) is 28.04%.

Insider Transactions at Northern Oil and Gas

In related news, Director Bahram Akradi purchased 40,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the acquisition, the director now directly owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. The trade was a 2.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas L. O'grady purchased 1,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the purchase, the chief executive officer now directly 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 disclosure for this purchase can be found here. 2.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NOG has been the topic of several recent research reports. Morgan Stanley decreased their price target 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 lowered Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 21st. Bank of America decreased their target price on 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. Raymond James reaffirmed a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Finally, Mizuho decreased their price target on Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $40.56.

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.