Quantbot Technologies LP Grows Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Quantbot Technologies LP boosted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 187.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,504 shares of the company’s stock after buying an additional 84,392 shares during the period. Quantbot Technologies LP’s holdings in Northern Oil and Gas were worth $4,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Natixis Advisors LLC boosted its holdings in Northern Oil and Gas by 10.0% in the 3rd quarter. Natixis Advisors LLC now owns 90,715 shares of the company’s stock valued at $3,212,000 after purchasing an additional 8,259 shares during the period. Pathstone Holdings LLC boosted its holdings in Northern Oil and Gas by 16.3% in the 3rd quarter. Pathstone Holdings LLC now owns 39,381 shares of the company’s stock valued at $1,396,000 after purchasing an additional 5,524 shares during the period. Jennison Associates LLC boosted its holdings in Northern Oil and Gas by 58.6% in the 3rd quarter. Jennison Associates LLC now owns 521,115 shares of the company’s stock valued at $18,453,000 after purchasing an additional 192,539 shares during the period. Intech Investment Management LLC bought a new position in Northern Oil and Gas in the 3rd quarter valued at $951,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 purchasing an additional 103,314 shares during the period. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on NOG. Citigroup cut their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Capital One Financial downgraded shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Mizuho downgraded shares of 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. Piper Sandler dropped their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, Truist Financial lifted their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Hold” and an average price target of $46.89.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $30.02 on Friday. The stock has a market cap of $2.98 billion, a PE ratio of 5.84 and a beta of 1.84. The company’s fifty day moving average is $34.33 and its 200 day moving average is $37.00. Northern Oil and Gas, Inc. has a 52 week low of $26.60 and a 52 week high of $44.31. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The firm had revenue of $545.47 million during the quarter, compared to analysts’ expectations of $552.34 million. Research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be paid a $0.45 dividend. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio is presently 35.02%.

Northern Oil and Gas announced that its Board of Directors has authorized a share buyback program on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Bahram Akradi purchased 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the purchase, the director now directly owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. This represents a 2.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nicholas L. O’grady purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $27.48 per share, with a total value of $27,480.00. Following the completion of the purchase, the chief executive officer now owns 226,189 shares of the company’s stock, valued at $6,215,673.72. This represents a 0.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is owned by insiders.

Northern Oil and Gas Company 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.