Virtu Financial LLC Invests $601,000 in Northern Oil and Gas, Inc. (NYSE:NOG)

Virtu Financial LLC acquired a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 16,176 shares of the company’s stock, valued at approximately $601,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its holdings in Northern Oil and Gas by 23.3% during 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. First Horizon Advisors Inc. lifted its stake in shares of Northern Oil and Gas by 9.1% during the 4th quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company’s stock valued at $129,000 after buying an additional 289 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in Northern Oil and Gas by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company’s stock worth $487,000 after buying an additional 298 shares during the period. Legato Capital Management LLC increased its stake in Northern Oil and Gas by 5.8% in the 4th quarter. Legato Capital Management LLC now owns 6,383 shares of the company’s stock worth $237,000 after buying an additional 349 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Northern Oil and Gas by 21.0% during the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock valued at $79,000 after acquiring an additional 368 shares during the period. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Trading Down 0.8 %

Shares of NOG stock opened at $30.70 on Wednesday. The company has a market cap of $3.04 billion, a PE ratio of 5.97 and a beta of 1.84. Northern Oil and Gas, Inc. has a 1 year low of $26.60 and a 1 year high of $44.31. The stock’s 50 day simple moving average is $33.92 and its two-hundred day simple moving average is $36.93. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results 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 return on equity of 24.41% and a net margin of 23.38%. The company had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. 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 business also recently declared 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. This represents a $1.80 annualized dividend and a yield of 5.86%. The ex-dividend date of this dividend 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 currently 35.02%.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NOG shares. Morgan Stanley set a $43.00 price objective on Northern Oil and Gas in a research note 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 report on Wednesday, January 29th. Truist Financial boosted 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 report on Monday, January 13th. Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a research note on Monday, December 16th. Finally, Citigroup decreased their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.89.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction 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 sale, the president now directly owns 96,223 shares of the company’s stock, valued at $3,752,697. The trade was a 0.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bahram Akradi purchased 40,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the purchase, the director now owns 1,662,016 shares of the company’s stock, valued at approximately $46,586,308.48. This trade represents a 2.47 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by company insiders.

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.