By otakuyassine3@gmail.com 
Bank of New York Mellon Corp lessened its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG – Free Report) by 1.1% during the 4th quarter, HoldingsChannel reports. The firm owned 1,132,395 shares of the company’s stock after selling 12,045 shares during the period. Bank of New York Mellon Corp’s holdings in Northern Oil and Gas were worth $42,080,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in Northern Oil and Gas by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock valued at $80,884,000 after acquiring an additional 100,761 shares in the last quarter. Copeland Capital Management LLC lifted its stake in Northern Oil and Gas by 0.9% in the 4th quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company’s stock valued at $78,590,000 after acquiring an additional 18,195 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Northern Oil and Gas by 1.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,381,285 shares of the company’s stock valued at $52,102,000 after acquiring an additional 21,754 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Northern Oil and Gas by 13.9% in the 4th quarter. New York State Common Retirement Fund now owns 1,071,966 shares of the company’s stock valued at $39,834,000 after acquiring an additional 130,979 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Northern Oil and Gas by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock valued at $34,902,000 after acquiring an additional 103,314 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.
Northern Oil and Gas Stock Down 2.4 %
NOG stock opened at $26.93 on Friday. 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 firm has a market capitalization of $2.67 billion, a PE ratio of 5.24 and a beta of 1.84. Northern Oil and Gas, Inc. has a 1-year low of $26.59 and a 1-year high of $44.31. The business’s 50 day simple moving average is $36.29 and its 200 day simple moving average is $37.77.
Northern Oil and Gas (NYSE:NOG – Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). The business had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. As a group, research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS 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 issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.68%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio is currently 35.02%.
Insider Buying and Selling at Northern Oil and Gas
In other news, Director Bahram Akradi acquired 40,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the acquisition, the director now directly owns 1,662,016 shares in the company, valued at $46,586,308.48. This represents a 2.47 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction 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 directly owns 96,223 shares in the company, valued at approximately $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have commented on NOG shares. Truist Financial boosted their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Royal Bank of Canada cut their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Mizuho lowered 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. Piper Sandler lowered their price target on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Finally, Capital One Financial lowered Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Northern Oil and Gas currently has an average rating of “Hold” and an average price target of $46.89.
Get Our Latest Stock Report on NOG
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.
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