Nisa Investment Advisors LLC Decreases Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Nisa Investment Advisors LLC lowered its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 34.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,457 shares of the company’s stock after selling 3,405 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Northern Oil and Gas were worth $243,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC bought a new position in shares of Northern Oil and Gas in the 3rd quarter worth approximately $25,000. Signaturefd LLC boosted its stake in shares of Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after acquiring an additional 427 shares during the period. Quarry LP grew its holdings in Northern Oil and Gas by 338.8% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after buying an additional 874 shares in the last quarter. GAMMA Investing LLC increased its holdings in 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 acquiring an additional 647 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of Northern Oil and Gas by 122.6% in the third quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after buying an additional 1,048 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Trading Up 0.9 %

NYSE NOG opened at $37.78 on Thursday. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $44.31. The company has a 50 day moving average price of $39.80 and a 200 day moving average price of $38.83. 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 firm has a market cap of $3.77 billion, a PE ratio of 4.54 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The business had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. During the same period in the prior year, the firm posted $1.73 earnings per share. The business’s quarterly revenue was up 140.0% on a year-over-year basis. As a group, sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.34 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a $0.45 dividend. The ex-dividend date is Friday, March 28th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 4.76%. Northern Oil and Gas’s dividend payout ratio (DPR) is 20.17%.

Wall Street Analysts Forecast Growth

NOG has been the subject of a number of recent research reports. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective for the company. Truist Financial upped their target price on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 target price on shares of Northern Oil and Gas in a report on Friday, January 10th. Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a report on Monday, December 16th. Finally, Piper Sandler dropped their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $47.56.

Insiders Place Their Bets

In other news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the sale, the president now directly owns 96,223 shares of the company’s stock, valued at $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 1,836 shares of company stock valued at $72,869. 2.80% of the stock is currently owned by corporate insiders.

Northern Oil and Gas 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.