33,245 Shares in Northern Oil and Gas, Inc. (NYSE:NOG) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 33,245 shares of the company’s stock, valued at approximately $1,235,000.

Several other hedge funds have also bought and sold shares of the stock. Legacy Investment Solutions LLC purchased a new position in shares of Northern Oil and Gas during the 3rd quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new stake in Northern Oil and Gas during the fourth quarter valued at $29,000. Blue Trust Inc. increased its holdings in Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after buying an additional 801 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after acquiring an additional 259 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Northern Oil and Gas during the 4th quarter worth about $66,000. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Insider Transactions at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the sale, the president now owns 96,223 shares of the company’s stock, valued at $3,752,697. This represents a 0.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Nicholas L. O’grady purchased 1,000 shares of Northern Oil and Gas stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the transaction, the chief executive officer now owns 226,189 shares in the company, valued at approximately $6,215,673.72. This trade represents a 0.44 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NOG shares. Capital One Financial cut Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Royal Bank of Canada decreased their target price on 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. Truist Financial boosted 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 report on Monday, January 13th. Citigroup decreased their price objective 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, Morgan Stanley cut 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 note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Hold” and an average target price of $45.44.

Northern Oil and Gas Stock Performance

NOG opened at $23.35 on Friday. Northern Oil and Gas, Inc. has a twelve month low of $22.50 and a twelve month high of $44.31. The firm has a market capitalization of $2.31 billion, a PE ratio of 4.54 and a beta of 1.49. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The firm’s 50-day moving average price is $32.05 and its 200 day moving average price is $36.60.

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

Northern Oil and Gas announced that its board has approved a share buyback plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Northern Oil and Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a $0.45 dividend. The ex-dividend date is Friday, March 28th. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.71%. Northern Oil and Gas’s dividend payout ratio (DPR) is 35.02%.

About Northern Oil and Gas

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.