Northern Oil and Gas, Inc. (NYSE:NOG) Shares Purchased by Northern Trust Corp

Northern Trust Corp grew its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,246,573 shares of the company's stock after acquiring an additional 104,854 shares during the period. Northern Trust Corp owned about 1.25% of Northern Oil and Gas worth $46,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Avior Wealth Management LLC lifted its stake in shares of Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock valued at $51,000 after buying an additional 259 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Northern Oil and Gas by 9.1% in the 4th quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company's stock worth $129,000 after purchasing an additional 289 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in Northern Oil and Gas by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock worth $487,000 after purchasing an additional 298 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in Northern Oil and Gas by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,378 shares of the company's stock worth $386,000 after purchasing an additional 329 shares in the last quarter. Finally, Legato Capital Management LLC lifted its stake in Northern Oil and Gas by 5.8% in the 4th quarter. Legato Capital Management LLC now owns 6,383 shares of the company's stock worth $237,000 after purchasing an additional 349 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

Insider Transactions at Northern Oil and Gas

In related news, CEO Nicholas L. O'grady bought 1,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $27.48 per share, with a total value 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 approximately $6,215,673.72. This trade represents a 0.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bahram Akradi acquired 40,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 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.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock traded up $0.04 on Wednesday, reaching $29.65. 353,971 shares of the stock were exchanged, compared to its average volume of 1,515,937. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 5.77 and a beta of 1.47. The business has a 50 day moving average price of $26.30 and a two-hundred day moving average price of $33.90.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings data 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 company had revenue of $602.10 million during 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%. The firm's revenue for the quarter was up 51.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 earnings per share. Analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas announced that its board has authorized a stock repurchase plan on Tuesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be paid 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 dividend yield of 6.07%. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

Analysts Set New Price Targets

NOG has been the topic of several recent research reports. Royal Bank of Canada decreased their target price on shares of 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. Piper Sandler decreased their target price on shares of Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday. Bank of America decreased 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 research note on Tuesday, April 1st. Mizuho dropped their target price on shares of Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Morgan Stanley dropped their target price 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 note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus 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.