Allspring Global Investments Holdings LLC Has $52.10 Million Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Allspring Global Investments Holdings LLC increased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,381,285 shares of the company’s stock after purchasing an additional 21,754 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Northern Oil and Gas were worth $52,102,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in Northern Oil and Gas in the 3rd quarter valued at approximately $25,000. Signaturefd LLC grew its holdings in Northern Oil and Gas by 100.5% in the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after buying an additional 427 shares during the last quarter. Blue Trust Inc. grew its holdings in Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after buying an additional 801 shares during the last quarter. Avior Wealth Management LLC grew its holdings in Northern Oil and Gas by 23.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after buying an additional 259 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Northern Oil and Gas by 58.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock valued at $62,000 after buying an additional 647 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock opened at $34.51 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $3.45 billion, a PE ratio of 4.14 and a beta of 1.81. Northern Oil and Gas, Inc. has a one year low of $32.35 and a one year high of $44.31. The business has a 50 day simple moving average of $38.31 and a 200 day simple moving average of $38.52.

Northern Oil and Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.22%. The ex-dividend date is Friday, March 28th. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio (DPR) is 20.17%.

Wall Street Analysts Forecast Growth

NOG has been the topic of a number of research analyst reports. Truist Financial raised their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. 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. Mizuho lowered Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a report on Monday, December 16th. Finally, Royal Bank of Canada decreased their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Hold” and an average target price of $47.00.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares in the company, valued at $3,752,697. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by corporate insiders.

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.