Aristotle Capital Boston LLC Sells 37,817 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Aristotle Capital Boston LLC trimmed its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 487,617 shares of the company's stock after selling 37,817 shares during the period. Aristotle Capital Boston LLC owned about 0.49% of Northern Oil and Gas worth $18,120,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in Northern Oil and Gas by 297.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock worth $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% during the fourth quarter. Principal Financial Group Inc. now owns 481,797 shares of the company's stock worth $17,904,000 after purchasing an additional 11,690 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Northern Oil and Gas by 36.1% in the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company's stock valued at $2,877,000 after purchasing an additional 20,550 shares during the period. Proficio Capital Partners LLC acquired a new position in Northern Oil and Gas in the fourth quarter valued at $909,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Northern Oil and Gas by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,058,899 shares of the company's stock worth $39,349,000 after buying an additional 73,256 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on NOG shares. Piper Sandler lowered their price target on Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating for the company in a report on Wednesday, January 29th. 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 research note on Tuesday, April 1st. Citigroup lowered 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 research note on Tuesday, February 25th. 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 on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley lowered their price target on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $43.50.

Insider Transactions at Northern Oil and Gas

In other news, Director Bahram Akradi purchased 40,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost 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 in the company, valued at $46,586,308.48. This trade represents a 2.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nicholas L. O'grady purchased 1,000 shares of the business's stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $27.48 per share, with a total value of $27,480.00. Following the completion of the acquisition, the chief executive officer now directly owns 226,189 shares in the company, 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. Corporate insiders own 2.90% of the company's stock.

Northern Oil and Gas Stock Up 6.5 %

NYSE NOG traded up $1.60 on Thursday, reaching $26.05. The company had a trading volume of 771,260 shares, compared to its average volume of 1,806,144. The firm has a market capitalization of $2.57 billion, a PE ratio of 5.07 and a beta of 1.47. The firm has a 50-day moving average of $26.29 and a 200-day moving average of $34.19. 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 debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.21. The business had revenue of $602.10 million during the quarter, compared to analyst estimates 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 was up 51.9% on a year-over-year basis. During the same period last year, the business earned $1.28 EPS. On average, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 6.91%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's payout ratio is 28.04%.

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

About Northern Oil and Gas

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.