EntryPoint Capital LLC Grows Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

EntryPoint Capital LLC boosted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 43.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 11,296 shares of the company’s stock after purchasing an additional 3,398 shares during the period. EntryPoint Capital LLC’s holdings in Northern Oil and Gas were worth $420,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new position in Northern Oil and Gas in the 3rd quarter valued at about $25,000. Blue Trust Inc. grew its stake in shares of 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 purchasing an additional 801 shares during the last quarter. Avior Wealth Management LLC increased its holdings 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 during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Northern Oil and Gas during the fourth quarter worth $66,000. Finally, Quarry LP raised its position in Northern Oil and Gas by 74.4% during the 3rd quarter. Quarry LP now owns 1,974 shares of the company’s stock worth $70,000 after buying an additional 842 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Northern Oil and Gas

In other news, Director Bahram Akradi purchased 40,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $28.03 per share, for a total transaction 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. This represents a 2.47 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas L. O’grady acquired 1,000 shares of Northern Oil and Gas stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the purchase, the chief executive officer now directly owns 226,189 shares of the company’s stock, valued at approximately $6,215,673.72. This trade represents a 0.44 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NOG has been the topic of a number of recent analyst reports. Citigroup dropped 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. Royal Bank of Canada dropped their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley set a $43.00 price target on Northern Oil and Gas in a report on Wednesday, January 22nd. Truist Financial lifted their price target on 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. Finally, Piper Sandler cut their price objective on 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $46.89.

Northern Oil and Gas Stock Down 0.8 %

Northern Oil and Gas stock opened at $30.70 on Wednesday. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 5.97 and a beta of 1.84. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. Northern Oil and Gas, Inc. has a fifty-two week low of $26.60 and a fifty-two week high of $44.31. The stock’s fifty day moving average is $33.92 and its two-hundred day moving average is $36.93.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share 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 business had revenue of $545.47 million for the quarter, compared to analysts’ expectations of $552.34 million. Analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas declared that its Board of Directors has authorized a stock buyback plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be given a dividend of $0.45 per share. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 5.86%. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s payout ratio is currently 35.02%.

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.