HUB Investment Partners LLC Takes $296,000 Position in Northern Oil and Gas, Inc. (NYSE:NOG)

HUB Investment Partners LLC bought a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) in the 4th quarter, HoldingsChannel.com reports. The firm bought 7,957 shares of the company’s stock, valued at approximately $296,000.

Other large investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Northern Oil and Gas in the 3rd quarter valued at about $25,000. Blue Trust Inc. lifted its position in Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after acquiring an additional 801 shares in the last quarter. Avior Wealth Management LLC lifted its position in Northern Oil and Gas by 23.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after acquiring an additional 259 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Northern Oil and Gas in the 4th quarter valued at about $66,000. Finally, Quarry LP lifted its position in Northern Oil and Gas by 74.4% in the 3rd quarter. Quarry LP now owns 1,974 shares of the company’s stock valued at $70,000 after acquiring an additional 842 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Nicholas L. O’grady acquired 1,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $27.48 per share, with a total value of $27,480.00. Following the acquisition, the chief executive officer now owns 226,189 shares of the company’s stock, valued at approximately $6,215,673.72. The trade was a 0.44 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bahram Akradi acquired 40,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the acquisition, the director now directly owns 1,662,016 shares in the company, valued at $46,586,308.48. The trade was a 2.47 % 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 Stock Down 2.5 %

NOG opened at $30.02 on Friday. The company has a fifty day moving average price of $34.33 and a 200-day moving average price of $36.99. The firm has a market capitalization of $2.98 billion, a P/E ratio of 5.84 and a beta of 1.84. 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, Inc. has a one year low of $26.60 and a one year high of $44.31.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). The firm had revenue of $545.47 million for the quarter, compared to analysts’ expectations of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. Equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas announced that its board has initiated a share repurchase program on Tuesday, March 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be given a dividend of $0.45 per share. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s payout ratio is 35.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NOG shares. Royal Bank of Canada lowered their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Truist Financial lifted their price objective 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. Citigroup reduced their price objective on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Piper Sandler reduced 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 note on Wednesday, January 29th. Finally, Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Northern Oil and Gas has an average rating of “Hold” and an average target price of $46.89.

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.