Northern Oil and Gas, Inc. (NYSE:NOG) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 17.6% during the 4th quarter, Holdings Channel reports. The firm owned 9,743 shares of the company’s stock after purchasing an additional 1,461 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Northern Oil and Gas were worth $362,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Icon Wealth Advisors LLC acquired a new stake in Northern Oil and Gas in the 3rd quarter worth about $828,000. Heritage Family Offices LLP acquired a new position in Northern Oil and Gas during the fourth quarter worth $244,000. Wesbanco Bank Inc. acquired a new position in Northern Oil and Gas during the third quarter worth $1,080,000. GAMMA Investing LLC grew its holdings in Northern Oil and Gas by 21.0% in the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock valued at $79,000 after buying an additional 368 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Northern Oil and Gas in the 3rd quarter worth $503,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

NOG stock opened at $36.10 on Tuesday. The company has a market capitalization of $3.60 billion, a PE ratio of 4.33 and a beta of 1.81. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The business’s fifty day moving average price is $38.74 and its 200 day moving average price is $38.59. Northern Oil and Gas, Inc. has a 12-month low of $32.35 and a 12-month high of $44.31.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.99%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s payout ratio is 20.17%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 price target on shares of Northern Oil and Gas in a research report on Friday, January 10th. Piper Sandler decreased their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research report on Monday, December 16th. Finally, Truist Financial increased their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $47.56.

Insider Transactions at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

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.