Tower Research Capital LLC TRC Grows Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Tower Research Capital LLC TRC increased its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 187.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,347 shares of the company’s stock after purchasing an additional 1,530 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Northern Oil and Gas were worth $87,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in shares of Northern Oil and Gas by 297.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company’s stock valued at $77,000 after purchasing an additional 1,570 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Northern Oil and Gas by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 481,797 shares of the company’s stock worth $17,904,000 after acquiring an additional 11,690 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Northern Oil and Gas by 36.1% in the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company’s stock valued at $2,877,000 after purchasing an additional 20,550 shares during the period. Proficio Capital Partners LLC acquired a new stake in Northern Oil and Gas during the fourth quarter worth about $909,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Northern Oil and Gas by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,058,899 shares of the company’s stock worth $39,349,000 after purchasing an additional 73,256 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOG has been the subject of several analyst reports. Bank of America dropped their price target 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. Capital One Financial cut Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Citigroup decreased their price target on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Morgan Stanley lowered their price objective 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, Royal Bank of Canada decreased their target price on Northern Oil and Gas from $40.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $43.50.

Northern Oil and Gas Price Performance

NOG stock opened at $26.53 on Friday. The business’s 50-day moving average is $26.23 and its two-hundred day moving average is $34.03. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The firm has a market capitalization of $2.62 billion, a P/E ratio of 5.16 and a beta of 1.47. Northern Oil and Gas, Inc. has a 1 year low of $19.88 and a 1 year high of $44.31.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) 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 company had revenue of $602.10 million during the quarter, compared to the consensus estimate of $568.87 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The firm’s quarterly revenue was up 51.9% on a year-over-year basis. Analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 6.78%. Northern Oil and Gas’s payout ratio is currently 28.04%.

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

Insider Buying and Selling at Northern Oil and Gas

In related news, Director Bahram Akradi bought 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the transaction, the director now directly owns 1,662,016 shares of the company’s stock, valued at approximately $46,586,308.48. This represents a 2.47 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas L. O’grady purchased 1,000 shares of the business’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 completion of the purchase, the chief executive officer now directly owns 226,189 shares in the company, valued at $6,215,673.72. This represents a 0.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.90% of the stock is owned by insiders.

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.