Intech Investment Management LLC Makes New $951,000 Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

Intech Investment Management LLC bought a new position in Northern Oil and Gas, Inc. (NYSE:NOG) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 26,846 shares of the company’s stock, valued at approximately $951,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Northern Oil and Gas by 290.5% during the second quarter. Harbor Capital Advisors Inc. now owns 84,213 shares of the company’s stock worth $3,130,000 after purchasing an additional 62,649 shares during the period. Boston Partners acquired a new stake in shares of Northern Oil and Gas during the first quarter worth approximately $885,000. American Century Companies Inc. boosted its holdings in shares of Northern Oil and Gas by 11.0% during the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after purchasing an additional 552,645 shares during the period. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Northern Oil and Gas by 18.5% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 453,414 shares of the company’s stock worth $16,853,000 after purchasing an additional 70,709 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Northern Oil and Gas by 1,772.3% during the second quarter. SG Americas Securities LLC now owns 116,045 shares of the company’s stock worth $4,313,000 after purchasing an additional 109,847 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $52,890.00. Following the transaction, the insider now owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. The trade was a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the transaction, the president now directly owns 107,876 shares in the company, valued at $4,153,226. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,508 shares of company stock valued at $248,113. 2.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NOG has been the subject of several research reports. Royal Bank of Canada cut shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $43.00 to $45.00 in a report on Wednesday, November 20th. Truist Financial raised their price target on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Morgan Stanley cut their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Piper Sandler raised their price objective on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Finally, Mizuho assumed coverage on shares of Northern Oil and Gas in a research report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Northern Oil and Gas presently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Northern Oil and Gas Trading Up 0.8 %

NYSE:NOG opened at $43.46 on Friday. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $44.31. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 5.22 and a beta of 1.80. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. The company’s 50 day moving average is $38.86 and its 200-day moving average is $38.65.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $540.23 million. During the same quarter last year, the firm posted $1.73 earnings per share. The company’s quarterly revenue was up 140.0% compared to the same quarter last year. Equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.42 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 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.