Homestead Advisers Corp Has $4.86 Million Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Homestead Advisers Corp cut its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,800 shares of the company’s stock after selling 24,000 shares during the quarter. Homestead Advisers Corp owned approximately 0.13% of Northern Oil and Gas worth $4,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Northern Oil and Gas in the 4th quarter worth $21,691,000. Channing Capital Management LLC increased its stake in shares of Northern Oil and Gas by 26.8% in the 4th quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company’s stock valued at $65,648,000 after buying an additional 373,917 shares during the period. Bridgewater Associates LP raised its stake in shares of Northern Oil and Gas by 135.6% during the third quarter. Bridgewater Associates LP now owns 511,170 shares of the company’s stock worth $18,101,000 after buying an additional 294,223 shares during the last quarter. American Century Companies Inc. lifted its stake in Northern Oil and Gas by 3.9% in the fourth quarter. American Century Companies Inc. now owns 6,537,596 shares of the company’s stock valued at $242,937,000 after buying an additional 243,531 shares during the period. Finally, Ninepoint Partners LP acquired a new stake in Northern Oil and Gas in the fourth quarter worth $7,432,000. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Trading Up 1.1 %

Shares of NYSE:NOG opened at $30.97 on Thursday. The stock’s 50-day simple moving average is $33.70 and its two-hundred day simple moving average is $36.89. 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 debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 6.03 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share 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 for the quarter, compared to analysts’ expectations of $552.34 million. Analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 5.81%. 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 currently 35.02%.

Northern Oil and Gas declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NOG has been the subject of several analyst reports. Capital One Financial cut Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Truist Financial increased 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 research note on Monday, January 13th. Royal Bank of Canada lowered their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Piper Sandler cut 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, Morgan Stanley set a $43.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, January 22nd. 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.89.

Insiders Place Their Bets

In other news, President Adam A. Dirlam sold 836 shares of the business’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 sale, the president now directly owns 96,223 shares in the company, valued at $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas L. O’grady purchased 1,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the transaction, the chief executive officer now directly owns 226,189 shares of the company’s stock, valued at $6,215,673.72. The trade was a 0.44 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is owned by company 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.