Geode Capital Management LLC Has $80.88 Million Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Geode Capital Management LLC grew its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,283,777 shares of the company’s stock after purchasing an additional 100,761 shares during the quarter. Geode Capital Management LLC owned about 2.29% of Northern Oil and Gas worth $80,884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOG. Legacy Investment Solutions LLC bought a new position in Northern Oil and Gas during the third quarter worth $25,000. Signaturefd LLC raised its position 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 worth $30,000 after acquiring an additional 427 shares in the last quarter. Quarry LP lifted its stake in shares of Northern Oil and Gas by 338.8% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after purchasing an additional 874 shares during the period. GAMMA Investing LLC lifted its stake in shares of Northern Oil and Gas by 58.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock valued at $62,000 after purchasing an additional 647 shares during the period. Finally, Covestor Ltd boosted its position 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 valued at $67,000 after purchasing an additional 1,048 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Insider Activity

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now directly owns 107,876 shares in the company, valued at $4,153,226. The trade was a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Chad W. Allen sold 1,500 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the transaction, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at $3,351,680. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,508 shares of company stock valued at $248,113 over the last three months. Corporate insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NOG. Royal Bank of Canada lowered Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $43.00 to $45.00 in a research note on Wednesday, November 20th. Piper Sandler dropped their target price on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday. Morgan Stanley reduced their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Truist Financial upped their price objective on shares of Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group initiated coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.20.

Northern Oil and Gas Stock Down 1.2 %

NOG stock opened at $35.57 on Friday. The firm has a market capitalization of $3.55 billion, a PE ratio of 4.27 and a beta of 1.85. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $44.31. The stock’s 50 day moving average is $39.69 and its 200-day moving average is $38.68.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. During the same quarter in the prior year, the business posted $1.73 EPS. The business’s revenue was up 140.0% compared to the same quarter last year. Sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.4 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be paid a $0.42 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.72%. Northern Oil and Gas’s payout ratio is presently 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.