Venturi Wealth Management LLC Invests $104,000 in Northern Oil and Gas, Inc. (NYSE:NOG)

Venturi Wealth Management LLC bought a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,806 shares of the company’s stock, valued at approximately $104,000.

Other institutional investors have also modified their holdings of the company. Icon Wealth Advisors LLC purchased a new position in Northern Oil and Gas in the 3rd quarter valued at approximately $828,000. State of Alaska Department of Revenue increased its position in shares of Northern Oil and Gas by 36.1% during the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company’s stock worth $2,877,000 after purchasing an additional 20,550 shares in the last quarter. James Investment Research Inc. acquired a new position in Northern Oil and Gas during the fourth quarter worth approximately $393,000. Heritage Family Offices LLP purchased a new stake in Northern Oil and Gas in the 4th quarter valued at $244,000. Finally, Tributary Capital Management LLC raised its holdings in shares of Northern Oil and Gas by 11.8% in the fourth quarter. Tributary Capital Management LLC now owns 588,487 shares of the company’s stock valued at $21,868,000 after buying an additional 62,300 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction dated 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 sale, the president now owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on NOG. Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a research note on Monday, December 16th. Royal Bank of Canada reduced their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Morgan Stanley set a $43.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, January 22nd. Capital One Financial lowered Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday. Finally, Truist Financial raised their price target 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $47.44.

Northern Oil and Gas Price Performance

Shares of Northern Oil and Gas stock opened at $33.01 on Monday. The business’s fifty day moving average price is $37.47 and its 200 day moving average price is $38.29. Northern Oil and Gas, Inc. has a twelve month low of $32.81 and a twelve month high of $44.31. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $3.29 billion, a P/E ratio of 6.42 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The business had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. As a group, research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be given a $0.45 dividend. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. This represents a $1.80 annualized dividend and a yield of 5.45%. Northern Oil and Gas’s dividend payout ratio (DPR) is 32.68%.

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.