Isthmus Partners LLC Boosts Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Isthmus Partners LLC boosted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,354 shares of the company’s stock after purchasing an additional 411 shares during the period. Isthmus Partners LLC’s holdings in Northern Oil and Gas were worth $1,797,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOG. Avior Wealth Management LLC increased its stake in shares of 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 valued at $51,000 after buying an additional 259 shares during the period. First Horizon Advisors Inc. increased its position in Northern Oil and Gas by 9.1% during the 4th quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company’s stock valued at $129,000 after purchasing an additional 289 shares during the period. Legato Capital Management LLC increased its position in Northern Oil and Gas by 5.8% during the 4th quarter. Legato Capital Management LLC now owns 6,383 shares of the company’s stock valued at $237,000 after purchasing an additional 349 shares during the period. GAMMA Investing LLC raised its holdings in Northern Oil and Gas by 21.0% in the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock worth $79,000 after purchasing an additional 368 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Northern Oil and Gas by 0.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 56,045 shares of the company’s stock worth $2,083,000 after purchasing an additional 487 shares during the period. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

NOG opened at $27.53 on Monday. Northern Oil and Gas, Inc. has a 1 year low of $26.59 and a 1 year high of $44.31. The stock has a 50-day moving average price of $36.12 and a 200-day moving average price of $37.69. The firm has a market cap of $2.73 billion, a PE ratio of 5.36 and a beta of 1.84. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results 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). The firm had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. Sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.54%. This is an increase 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 (DPR) is currently 35.02%.

Insiders Place Their Bets

In other Northern Oil and Gas news, Director Bahram Akradi acquired 40,000 shares of Northern Oil and Gas stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the acquisition, the director now owns 1,662,016 shares of the company’s stock, valued at $46,586,308.48. This represents a 2.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Adam A. Dirlam sold 836 shares of the company’s 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 transaction, the president now owns 96,223 shares in the company, valued at $3,752,697. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NOG. Capital One Financial cut shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. Royal Bank of Canada decreased 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 report on Thursday, February 13th. Piper Sandler dropped 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. Mizuho downgraded 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. Finally, Truist Financial raised their price objective on 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.89.

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.