Northern Oil and Gas, Inc. (NYSE:NOG) Stock Holdings Decreased by Oak Ridge Investments LLC

Oak Ridge Investments LLC lessened its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 31,302 shares of the company’s stock after selling 993 shares during the period. Oak Ridge Investments LLC’s holdings in Northern Oil and Gas were worth $1,163,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Icon Wealth Advisors LLC acquired a new stake in Northern Oil and Gas during the third quarter valued at approximately $828,000. Heritage Wealth Management Inc. acquired a new stake in shares of Northern Oil and Gas during the 2nd quarter valued at approximately $939,000. Wesbanco Bank Inc. bought a new position in Northern Oil and Gas during the third quarter worth $1,080,000. GAMMA Investing LLC boosted its holdings in Northern Oil and Gas by 21.0% in the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock worth $79,000 after purchasing an additional 368 shares during the period. Finally, Versor Investments LP bought a new stake in Northern Oil and Gas during the third quarter valued at $503,000. Institutional investors own 98.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NOG. Mizuho downgraded 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. Piper Sandler decreased their target price on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 price target on shares of Northern Oil and Gas in a research report on Friday, January 10th. Truist Financial boosted their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Jefferies Financial Group started coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Insider Activity

In other news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas 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 transaction, the president now 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 accessible through this link. Insiders sold a total of 1,836 shares of company stock worth $72,869 over the last 90 days. 2.80% of the stock is currently owned by company insiders.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $42.04 on Friday. The firm’s 50-day simple moving average is $40.04 and its 200 day simple moving average is $38.81. The stock has a market cap of $4.20 billion, a P/E ratio of 5.05 and a beta of 1.85. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. During the same period in the prior year, the business posted $1.73 EPS. The business’s revenue for the quarter was up 140.0% compared to the same quarter last year. Equities analysts expect that Northern Oil and Gas, Inc. will post 5.39 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio is presently 20.17%.

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.