Northern Oil and Gas, Inc. (NYSE:NOG) Stock Position Raised by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. increased its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 59.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 98,896 shares of the company’s stock after acquiring an additional 36,887 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Northern Oil and Gas were worth $3,675,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NOG. Smartleaf Asset Management LLC boosted its position in shares of Northern Oil and Gas by 297.3% in the 4th 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 period. Principal Financial Group Inc. increased its position in shares of Northern Oil and Gas by 2.5% in the fourth 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 in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Northern Oil and Gas by 36.1% during 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 acquiring an additional 20,550 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Northern Oil and Gas in the 4th quarter valued at approximately $909,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Northern Oil and Gas by 7.4% in the 4th 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.

Northern Oil and Gas Stock Performance

NOG stock opened at $30.93 on Tuesday. The firm has a 50 day moving average of $34.13 and a two-hundred day moving average of $36.96. Northern Oil and Gas, Inc. has a 12 month low of $26.60 and a 12 month high of $44.31. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 6.02 and a beta of 1.84. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Wednesday, February 19th. The company reported $1.11 EPS 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 business had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. As a group, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

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 issued a $0.45 dividend. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 5.82%. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas’s payout ratio is 35.02%.

Northern Oil and Gas announced that its board has initiated 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 reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Truist Financial boosted their target price on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Piper Sandler dropped their price target on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley set a $43.00 price objective on Northern Oil and Gas in a research report on Wednesday, January 22nd. Capital One Financial downgraded Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Finally, Citigroup decreased their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.89.

Insiders Place Their Bets

In other news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction 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 directly owns 96,223 shares in the company, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas L. O’grady bought 1,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased 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. The trade was a 0.44 % increase in their position. The disclosure for this purchase can be found here. Company 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.