Northern Oil and Gas, Inc. (NYSE:NOG) Shares Bought by Graham Capital Management L.P.

Graham Capital Management L.P. lifted its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 374.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,923 shares of the company's stock after buying an additional 31,504 shares during the quarter. Graham Capital Management L.P.'s holdings in Northern Oil and Gas were worth $1,484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NOG. Raymond James Financial Inc. bought a new position in shares of Northern Oil and Gas in the fourth quarter worth about $21,691,000. Channing Capital Management LLC raised its stake in Northern Oil and Gas by 26.8% during the 4th quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company's stock valued at $65,648,000 after purchasing an additional 373,917 shares during the period. American Century Companies Inc. lifted its holdings in 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 in the last quarter. Natixis bought a new position in Northern Oil and Gas in the 4th quarter worth approximately $7,503,000. Finally, Ninepoint Partners LP purchased a new stake in Northern Oil and Gas during the 4th quarter valued at approximately $7,432,000. Institutional investors own 98.80% of the company's stock.

Insider Buying and Selling

In other Northern Oil and Gas news, CEO Nicholas L. O'grady bought 1,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $27.48 per share, with a total value of $27,480.00. Following the transaction, the chief executive officer now owns 226,189 shares of the company's stock, valued at approximately $6,215,673.72. The trade was a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bahram Akradi purchased 40,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were purchased 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 of the company's stock, valued at $46,586,308.48. This trade represents a 2.47% 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.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Capital One Financial lowered shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. Bank of America cut their price objective on shares of Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Mizuho cut their price objective on shares of Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. 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. Finally, Royal Bank of Canada cut their price objective on shares of Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Northern Oil and Gas currently has a consensus rating of "Hold" and an average price target of $40.56.

Northern Oil and Gas Price Performance

NYSE NOG traded down $0.31 during mid-day trading on Friday, hitting $28.43. The stock had a trading volume of 1,241,774 shares, compared to its average volume of 1,534,928. The firm's 50 day moving average is $26.36 and its 200 day moving average is $33.72. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month 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. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 5.53 and a beta of 1.47.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.21. The company had revenue of $602.10 million during the quarter, compared to analysts' expectations of $568.87 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The firm's quarterly revenue was up 51.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 EPS. Equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

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

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.33%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's payout ratio is 28.04%.

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.