Voya Investment Management LLC Acquires 12,257 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Voya Investment Management LLC lifted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 917,019 shares of the company's stock after acquiring an additional 12,257 shares during the quarter. Voya Investment Management LLC owned approximately 0.92% of Northern Oil and Gas worth $34,076,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Headlands Technologies LLC acquired a new position in shares of Northern Oil and Gas in the 4th quarter valued at $29,000. Blue Trust Inc. lifted its holdings in shares of Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock valued at $44,000 after purchasing an additional 801 shares in the last quarter. Avior Wealth Management LLC lifted its holdings 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 purchasing an additional 259 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Northern Oil and Gas during the 4th quarter valued at about $66,000. Finally, Smartleaf Asset Management LLC lifted its stake in Northern Oil and Gas by 297.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock valued at $77,000 after acquiring an additional 1,570 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Nicholas L. O'grady bought 1,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were bought 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bahram Akradi acquired 40,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the acquisition, the director now owns 1,662,016 shares of the company's stock, valued at approximately $46,586,308.48. The trade was a 2.47 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

NOG has been the topic of several recent analyst reports. Royal Bank of Canada lowered their price target on 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 price objective on Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, January 29th. Truist Financial increased their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, January 13th. 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 for the company in a research report on Thursday, March 27th. Finally, Capital One Financial cut shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $43.50.

Northern Oil and Gas Price Performance

Shares of Northern Oil and Gas stock traded down $0.51 during midday trading on Wednesday, hitting $24.25. 2,558,392 shares of the company traded hands, compared to its average volume of 1,503,537. Northern Oil and Gas, Inc. has a 12 month low of $19.88 and a 12 month high of $44.31. 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 stock has a market cap of $2.40 billion, a price-to-earnings ratio of 4.72 and a beta of 1.49. The firm's fifty day moving average price is $27.21 and its 200-day moving average price is $34.72.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.21. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The firm had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. During the same period in the previous year, the firm posted $1.28 EPS. The company's revenue for the quarter was up 51.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas declared that its board has authorized a stock repurchase program on Tuesday, March 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its stock is undervalued.

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.