Peregrine Capital Management LLC Has $5.43 Million Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Peregrine Capital Management LLC reduced its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 15.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 146,086 shares of the company’s stock after selling 26,420 shares during the quarter. Peregrine Capital Management LLC’s holdings in Northern Oil and Gas were worth $5,429,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Northern Oil and Gas by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock worth $80,884,000 after acquiring an additional 100,761 shares in the last quarter. Copeland Capital Management LLC raised its stake in Northern Oil and Gas by 0.9% during the fourth quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company’s stock worth $78,590,000 after acquiring an additional 18,195 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Northern Oil and Gas by 1.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,381,285 shares of the company’s stock worth $52,102,000 after acquiring an additional 21,754 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Northern Oil and Gas by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock worth $34,902,000 after acquiring an additional 103,314 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in Northern Oil and Gas by 41.4% during the third quarter. New York State Common Retirement Fund now owns 940,987 shares of the company’s stock worth $33,320,000 after acquiring an additional 275,704 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOG has been the subject of several recent analyst reports. 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 research note on Monday, December 16th. Royal Bank of Canada lowered their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Truist Financial raised 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. Finally, Piper Sandler lowered their target price on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.00.

Insider Activity at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is owned by company insiders.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock opened at $35.19 on Wednesday. The business’s 50-day simple moving average is $37.96 and its 200 day simple moving average is $38.36. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 4.22 and a beta of 1.81. Northern Oil and Gas, Inc. has a 12-month low of $33.17 and a 12-month high of $44.31. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 of this dividend is Friday, March 28th. This represents a $1.80 annualized dividend and a yield of 5.11%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 20.17%.

About Northern Oil and Gas

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.