Bay Colony Advisory Group Inc d b a Bay Colony Advisors Increases Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,046 shares of the company’s stock after buying an additional 845 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Northern Oil and Gas were worth $894,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Legacy Investment Solutions LLC purchased a new stake in Northern Oil and Gas during the 3rd quarter valued at about $25,000. Blue Trust Inc. boosted its holdings in shares of Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after purchasing an additional 801 shares during the last quarter. Avior Wealth Management LLC grew 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 valued at $51,000 after purchasing an additional 259 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Northern Oil and Gas in the fourth quarter valued at approximately $66,000. Finally, Covestor Ltd lifted its position in Northern Oil and Gas by 122.6% during the third quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after buying an additional 1,048 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s 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 transaction, the president now owns 96,223 shares of the company’s stock, valued at $3,752,697. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Bahram Akradi acquired 40,000 shares of Northern Oil and Gas stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the completion of the purchase, the director now 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 disclosure for this purchase can be found here. Insiders own 2.80% of the company’s stock.

Northern Oil and Gas Stock Up 2.4 %

Shares of NYSE NOG opened at $27.53 on Friday. 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 business’s 50 day moving average is $36.12 and its two-hundred day moving average is $37.69. Northern Oil and Gas, Inc. has a 52-week low of $26.59 and a 52-week high of $44.31. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 5.36 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $552.34 million. Research analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid a $0.45 dividend. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 6.54%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 35.02%.

Analysts Set New Price Targets

Several brokerages have issued reports on NOG. Morgan Stanley set a $43.00 target price on Northern Oil and Gas in a report on Wednesday, January 22nd. Piper Sandler cut their price objective on shares of 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. Truist Financial lifted their target price on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. 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 for the company in a research note on Thursday, February 13th. Finally, Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.89.

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.