Trust Point Inc. Sells 13,695 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Trust Point Inc. lessened its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 46.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,597 shares of the company’s stock after selling 13,695 shares during the quarter. Trust Point Inc.’s holdings in Northern Oil and Gas were worth $580,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Legacy Investment Solutions LLC acquired a new stake in Northern Oil and Gas during the 3rd quarter worth $25,000. Signaturefd LLC grew its stake in shares of Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after purchasing an additional 427 shares during the period. Blue Trust Inc. lifted its stake in Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after buying an additional 801 shares during the period. Avior Wealth Management LLC boosted its holdings in Northern Oil and Gas by 23.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after buying an additional 259 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of 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 during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Truist Financial boosted 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 report on Monday, January 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price objective on shares of Northern Oil and Gas in a research report on Friday, January 10th. 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. Finally, Mizuho downgraded 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.56.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was 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 $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by company insiders.

Northern Oil and Gas Stock Up 2.9 %

NYSE:NOG opened at $36.87 on Wednesday. The company has a market cap of $3.68 billion, a PE ratio of 4.43 and a beta of 1.82. The stock has a 50-day simple moving average of $39.33 and a 200 day simple moving average of $38.70. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. The business had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The firm’s revenue for the quarter was up 140.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. On average, sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.3 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business 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 $0.45 dividend. This is a boost 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 dividend yield of 4.88%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 21.61%.

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.