Natixis Advisors L.P. Lowers Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Natixis Advisors L.P. reduced its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 31.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,580 shares of the company's stock after selling 28,213 shares during the period. Natixis Advisors L.P. owned about 0.06% of Northern Oil and Gas worth $2,318,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NOG. DekaBank Deutsche Girozentrale purchased a new stake in Northern Oil and Gas in the 3rd quarter worth approximately $67,000. Covestor Ltd grew its holdings in Northern Oil and Gas by 44,860.0% during the 3rd quarter. Covestor Ltd now owns 2,248 shares of the company's stock valued at $90,000 after buying an additional 2,243 shares in the last quarter. Assetmark Inc. raised its position in shares of Northern Oil and Gas by 14.2% during the third quarter. Assetmark Inc. now owns 3,061 shares of the company's stock valued at $123,000 after buying an additional 380 shares during the last quarter. Hanseatic Management Services Inc. purchased a new position in shares of Northern Oil and Gas in the third quarter worth $159,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Northern Oil and Gas during the third quarter worth $209,000. 98.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NOG has been the topic of several research analyst reports. Morgan Stanley boosted their price target on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Monday, April 15th. Citigroup cut their price target on Northern Oil and Gas from $55.00 to $50.00 and set a "buy" rating for the company in a report on Friday, May 3rd. Piper Sandler upped their price objective on Northern Oil and Gas from $42.00 to $43.00 and gave the stock a "neutral" rating in a report on Tuesday. Jefferies Financial Group raised their target price on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Finally, StockNews.com raised shares of Northern Oil and Gas from a "sell" rating to a "hold" rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas currently has an average rating of "Moderate Buy" and an average price target of $48.00.

Northern Oil and Gas Trading Up 1.3 %

NYSE:NOG traded up $0.52 during mid-day trading on Tuesday, hitting $40.14. 704,931 shares of the stock traded hands, compared to its average volume of 1,273,753. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 6.48 and a beta of 1.84. Northern Oil and Gas, Inc. has a 52 week low of $29.57 and a 52 week high of $43.75. The firm's 50 day moving average is $40.11 and its two-hundred day moving average is $37.35.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.10. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The firm had revenue of $396.35 million for the quarter, compared to the consensus estimate of $505.67 million. During the same period in the prior year, the business posted $1.76 earnings per share. The company's revenue for the quarter was down 31.9% on a year-over-year basis. On average, equities research analysts predict that Northern Oil and Gas, Inc. will post 5.25 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Thursday, June 27th. Northern Oil and Gas's dividend payout ratio is currently 25.93%.

Insider Transactions at Northern Oil and Gas

In other news, insider James B. Evans sold 3,150 shares of the firm's stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the transaction, the insider now directly owns 73,753 shares of the company's stock, valued at $3,097,626. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Northern Oil and Gas news, CEO Nicholas L. O'grady sold 3,750 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $40.98, for a total transaction of $153,675.00. Following the transaction, the chief executive officer now directly owns 228,082 shares in the company, valued at approximately $9,346,800.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James B. Evans sold 3,150 shares of the business's stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the sale, the insider now owns 73,753 shares of the company's stock, valued at approximately $3,097,626. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,944 shares of company stock worth $436,614. Insiders own 2.80% of the company's stock.

Northern Oil and Gas Company 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.