Headlands Technologies LLC Buys Shares of 776 Northern Oil and Gas, Inc. (NYSE:NOG)

Headlands Technologies LLC purchased a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 776 shares of the company’s stock, valued at approximately $29,000.

Several other institutional investors have also made changes to their positions in NOG. Smartleaf Asset Management LLC raised its position in Northern Oil and Gas by 297.3% during the fourth 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. 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 valued at $17,904,000 after purchasing an additional 11,690 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Northern Oil and Gas by 36.1% in the 4th 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 last quarter. Proficio Capital Partners LLC bought a new stake in Northern Oil and Gas in the fourth quarter worth $909,000. Finally, Charles Schwab Investment Management Inc. increased its position 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 buying an additional 73,256 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on NOG shares. Piper Sandler reduced their price target on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Royal Bank of Canada dropped their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley decreased 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 report on Thursday, March 27th. Citigroup dropped their target price on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, Truist Financial upped their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas has a consensus rating of “Hold” and a consensus target price of $45.44.

Northern Oil and Gas Trading Down 8.6 %

Shares of NOG opened at $20.61 on Wednesday. The stock’s 50-day moving average price is $31.08 and its 200 day moving average price is $36.27. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 4.01 and a beta of 1.49. Northern Oil and Gas, Inc. has a 12-month low of $20.21 and a 12-month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The firm had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. As a group, research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be paid a $0.45 dividend. The ex-dividend date is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 8.73%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s payout ratio is presently 35.02%.

Northern Oil and Gas declared that its board has initiated a share repurchase plan on Tuesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Bahram Akradi bought 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the transaction, the director now directly owns 1,662,016 shares of the company’s stock, valued at $46,586,308.48. This trade represents a 2.47 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 purchased at an average cost of $27.48 per share, with a total value of $27,480.00. Following the completion of the acquisition, the chief executive officer now directly owns 226,189 shares in the company, valued at $6,215,673.72. The trade was a 0.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company 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.