Oak Ridge Investments LLC Trims Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Oak Ridge Investments LLC decreased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,302 shares of the company’s stock after selling 993 shares during the period. Oak Ridge Investments LLC’s holdings in Northern Oil and Gas were worth $1,163,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Icon Wealth Advisors LLC purchased a new stake in Northern Oil and Gas during the 3rd quarter worth about $828,000. Heritage Wealth Management Inc. purchased a new stake in shares of Northern Oil and Gas during the second quarter worth about $939,000. Wesbanco Bank Inc. acquired a new position in shares of Northern Oil and Gas in the third quarter valued at approximately $1,080,000. GAMMA Investing LLC lifted its stake in shares of Northern Oil and Gas by 21.0% during the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock valued at $79,000 after buying an additional 368 shares during the period. Finally, Versor Investments LP acquired a new stake in Northern Oil and Gas during the third quarter worth approximately $503,000. 98.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NOG. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 price target on shares of Northern Oil and Gas in a research note on Friday, January 10th. Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Monday, December 16th. Piper Sandler decreased their target price on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Finally, Truist Financial upped their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Northern Oil and Gas Stock Down 0.1 %

Shares of NYSE NOG opened at $42.04 on Friday. The stock has a fifty day moving average price of $40.04 and a 200 day moving average price of $38.81. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a 12-month low of $31.13 and a 12-month high of $44.31. The company has a market cap of $4.20 billion, a P/E ratio of 5.05 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.20 by $0.20. The business had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The company’s revenue was up 140.0% on a year-over-year basis. During the same period last year, the business posted $1.73 EPS. Research analysts anticipate that Northern Oil and Gas, Inc. will post 5.39 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be paid a $0.42 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.68 annualized dividend and a dividend yield of 4.00%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

Insider Activity at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders sold 1,836 shares of company stock valued at $72,869. Corporate insiders own 2.80% of the company’s stock.

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.