Wakefield Asset Management LLLP Makes New Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

Wakefield Asset Management LLLP acquired a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) during the fourth quarter, HoldingsChannel reports. The firm acquired 27,920 shares of the company’s stock, valued at approximately $1,038,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new position in shares of Northern Oil and Gas during the third quarter worth about $25,000. Signaturefd LLC grew its stake in shares of Northern Oil and Gas by 100.5% in the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares during the last quarter. Blue Trust Inc. raised its holdings in Northern Oil and Gas by 177.2% during the fourth 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 boosted its position 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 worth $51,000 after purchasing an additional 259 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after purchasing an additional 1,048 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the transaction, the president now directly owns 96,223 shares of the company’s stock, valued at $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $31.91 on Friday. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 6.21 and a beta of 1.82. Northern Oil and Gas, Inc. has a 12 month low of $31.70 and a 12 month high of $44.31. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The stock’s 50-day moving average is $37.04 and its 200-day moving average is $38.13.

Northern Oil and Gas (NYSE:NOG) last posted its 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). The business had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. Equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently announced 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 represents a $1.80 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler reduced their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note 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 research report on Friday, February 21st. Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a report on Monday, December 16th. Finally, Royal Bank of Canada dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $46.89.

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.