Northern Oil and Gas, Inc. (NYSE:NOG) Stake Lessened by Foster & Motley Inc.

Foster & Motley Inc. trimmed its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,553 shares of the company’s stock after selling 436 shares during the period. Foster & Motley Inc.’s holdings in Northern Oil and Gas were worth $354,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NOG. National Bank of Canada FI lifted its holdings in shares of Northern Oil and Gas by 2.3% in the third quarter. National Bank of Canada FI now owns 30,680 shares of the company’s stock valued at $1,177,000 after buying an additional 680 shares during the period. SG Americas Securities LLC acquired a new position in shares of Northern Oil and Gas in the 3rd quarter worth $387,000. RFG Advisory LLC acquired a new position in shares of Northern Oil and Gas in the 3rd quarter worth $250,000. Ziegler Capital Management LLC acquired a new stake in shares of Northern Oil and Gas during the third quarter worth $841,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Northern Oil and Gas during the third quarter valued at $249,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Truist Financial dropped their price target on Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Royal Bank of Canada restated an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Raymond James dropped their price objective on shares of Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Piper Sandler lifted their target price on shares of Northern Oil and Gas from $38.00 to $42.00 and gave the company a “neutral” rating in a research note on Friday, April 19th. Finally, Stifel Nicolaus increased their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.30.

Northern Oil and Gas Price Performance

Shares of NOG stock opened at $42.97 on Thursday. The company has a market capitalization of $4.34 billion, a P/E ratio of 4.28 and a beta of 1.86. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90. Northern Oil and Gas, Inc. has a 12 month low of $29.57 and a 12 month high of $43.64. The stock has a 50 day moving average of $38.60 and a two-hundred day moving average of $37.27.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.03). The business had revenue of $543.40 million during the quarter, compared to analyst estimates of $555.31 million. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period last year, the company earned $1.43 EPS. As a group, equities analysts expect that Northern Oil and Gas, Inc. will post 5.5 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Wednesday, March 27th. Northern Oil and Gas’s payout ratio is 15.94%.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of Northern Oil and Gas stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the transaction, the insider now owns 83,872 shares in the company, valued at approximately $3,187,136. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $79,344.00. Following the transaction, the president now directly owns 122,359 shares in the company, valued at $4,649,642. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James B. Evans sold 945 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the sale, the insider now directly owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The disclosure for this sale can be found here. Insiders have sold 10,944 shares of company stock valued at $436,614 in the last three months. 2.80% of the stock is owned by corporate insiders.

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.