Abel Hall LLC Takes $206,000 Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Abel Hall LLC acquired a new position in Northern Oil and Gas, Inc. (NYSE:NOG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,545 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors have also recently bought and sold shares of NOG. Legacy Investment Solutions LLC acquired a new position in shares of Northern Oil and Gas in the 3rd quarter valued at about $25,000. Signaturefd LLC grew its position in Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares in the last quarter. Quarry LP increased its stake in Northern Oil and Gas by 338.8% in 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 during the period. Blue Trust Inc. lifted its position in Northern Oil and Gas by 177.2% in the 4th 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. Finally, Avior Wealth Management LLC boosted its stake in shares of 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 valued at $51,000 after buying an additional 259 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Price Performance

Shares of Northern Oil and Gas stock opened at $37.78 on Thursday. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $44.31. The firm has a fifty day simple moving average of $39.80 and a 200-day simple moving average of $38.83. 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 stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 4.54 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.20. The business had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. Northern Oil and Gas’s quarterly revenue was up 140.0% on a year-over-year basis. During the same quarter last year, the company posted $1.73 earnings per share. On average, sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.34 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. Stockholders of record on Friday, March 28th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction dated 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 in the company, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 1,836 shares of company stock worth $72,869. Company insiders own 2.80% of the company’s stock.

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.