Hood River Capital Management LLC Sells 140,628 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Hood River Capital Management LLC decreased its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 9.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,352,583 shares of the company's stock after selling 140,628 shares during the period. Hood River Capital Management LLC owned about 1.36% of Northern Oil and Gas worth $50,262,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Northern Oil and Gas by 11.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 67,746 shares of the company's stock valued at $2,518,000 after purchasing an additional 6,989 shares during the last quarter. ClearAlpha Technologies LP bought a new position in shares of Northern Oil and Gas in the fourth quarter valued at $267,000. State of Tennessee Department of Treasury raised its position in Northern Oil and Gas by 16.5% during the fourth quarter. State of Tennessee Department of Treasury now owns 26,892 shares of the company's stock worth $999,000 after acquiring an additional 3,805 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Northern Oil and Gas by 187.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,347 shares of the company's stock worth $87,000 after acquiring an additional 1,530 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Northern Oil and Gas by 4.5% in the fourth quarter. MetLife Investment Management LLC now owns 59,818 shares of the company's stock valued at $2,223,000 after acquiring an additional 2,581 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, CEO Nicholas L. O'grady purchased 1,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the transaction, the chief executive officer now owns 226,189 shares in the company, valued at $6,215,673.72. The trade was a 0.44 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bahram Akradi purchased 40,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was bought 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.90% of the company's stock.

Northern Oil and Gas Stock Up 1.0 %

NYSE:NOG traded up $0.24 on Monday, hitting $24.40. The stock had a trading volume of 663,719 shares, compared to its average volume of 1,484,563. The stock has a market cap of $2.41 billion, a P/E ratio of 4.75 and a beta of 1.49. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The firm's fifty day simple moving average is $27.64 and its two-hundred day simple moving average is $34.89. Northern Oil and Gas, Inc. has a 1 year low of $19.88 and a 1 year high of $44.31.

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

Northern Oil and Gas announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be issued a $0.45 dividend. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.38%. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas's dividend payout ratio (DPR) is presently 35.02%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NOG. Royal Bank of Canada decreased 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 report on Monday, April 14th. Piper Sandler reduced their target price on shares of 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. Truist Financial upped their target price 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. Citigroup dropped their price target on 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. Finally, Capital One Financial cut Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of "Hold" and an average 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.