Entropy Technologies LP Acquires 7,668 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Entropy Technologies LP increased its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 68.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 18,868 shares of the company’s stock after purchasing an additional 7,668 shares during the quarter. Entropy Technologies LP’s holdings in Northern Oil and Gas were worth $701,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in shares of Northern Oil and Gas during 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 valued at $30,000 after buying an additional 427 shares during the period. Blue Trust Inc. grew its position in Northern Oil and Gas by 177.2% during the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after buying an additional 801 shares in the last quarter. Avior Wealth Management LLC increased its stake in Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after acquiring an additional 259 shares during the period. Finally, GAMMA Investing LLC raised 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 in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

NOG stock opened at $36.24 on Wednesday. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 4.35 and a beta of 1.81. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The company has a 50 day simple moving average of $38.59 and a 200 day simple moving average of $38.57. Northern Oil and Gas, Inc. has a 1 year low of $32.35 and a 1 year high of $44.31.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.97%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio is presently 20.17%.

Insider Activity

In related news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares in the company, valued at $3,752,697. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NOG. Piper Sandler reduced their target price on 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. Truist Financial increased their price objective 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 reissued a “sector perform” rating and issued a $45.00 target price on shares of Northern Oil and Gas in a report on Friday, January 10th. Finally, Mizuho downgraded 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $47.56.

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.