Peregrine Capital Management LLC Reduces Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Peregrine Capital Management LLC trimmed its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 24.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 222,194 shares of the company's stock after selling 73,194 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.22% of Northern Oil and Gas worth $8,237,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Jump Financial LLC acquired a new stake in shares of Northern Oil and Gas in the third quarter valued at approximately $4,462,000. Wellington Management Group LLP lifted its position in shares of Northern Oil and Gas by 11.6% in the third quarter. Wellington Management Group LLP now owns 417,265 shares of the company's stock valued at $16,787,000 after buying an additional 43,527 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Northern Oil and Gas in the third quarter valued at approximately $329,000. Sei Investments Co. lifted its position in shares of Northern Oil and Gas by 38.6% in the third quarter. Sei Investments Co. now owns 419,762 shares of the company's stock valued at $16,888,000 after buying an additional 116,983 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Northern Oil and Gas by 10.0% during the 3rd quarter. Swiss National Bank now owns 173,800 shares of the company's stock worth $6,992,000 after purchasing an additional 15,800 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider James B. Evans sold 945 shares of the business's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the sale, the insider now owns 83,872 shares in the company, valued at approximately $3,187,136. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Adam A. Dirlam sold 2,088 shares of the business's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the sale, the president now owns 122,359 shares in the company, valued at approximately $4,649,642. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James B. Evans sold 945 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the sale, the insider now owns 83,872 shares in the company, valued at approximately $3,187,136. The disclosure for this sale can be found here. Insiders have sold 10,944 shares of company stock worth $436,614 in the last 90 days. Insiders own 3.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NOG shares. Citigroup dropped their price target on Northern Oil and Gas from $50.00 to $45.00 and set a "buy" rating for the company in a report on Wednesday, February 28th. Bank of America cut Northern Oil and Gas from a "buy" rating to an "underperform" rating and set a $39.00 price target for the company. in a report on Friday, January 5th. Truist Financial dropped their price target on Northern Oil and Gas from $56.00 to $55.00 and set a "buy" rating for the company in a report on Friday, April 5th. Raymond James dropped their price objective on Northern Oil and Gas from $51.00 to $45.00 and set a "strong-buy" rating for the company in a report on Wednesday, January 24th. Finally, Jefferies Financial Group lifted their price objective on Northern Oil and Gas from $45.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.30.

Northern Oil and Gas Price Performance

Shares of NOG traded up $0.26 during midday trading on Wednesday, hitting $42.53. The company's stock had a trading volume of 1,410,341 shares, compared to its average volume of 1,256,268. Northern Oil and Gas, Inc. has a one year low of $29.57 and a one year high of $43.64. The company's fifty day simple moving average is $36.57 and its two-hundred day simple moving average is $37.04. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 4.24 and a beta of 1.86.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.03). Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The business had revenue of $543.40 million during the quarter, compared to the consensus estimate of $555.31 million. During the same quarter in the previous year, the business posted $1.43 EPS. The company's revenue for the quarter was up 21.9% on a year-over-year basis. As a group, equities analysts expect that Northern Oil and Gas, Inc. will post 5.43 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.60 annualized dividend and a dividend yield of 3.76%. Northern Oil and Gas's payout ratio is 15.94%.

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.