Xponance Inc. Raises Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Xponance Inc. lifted its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 23.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,969 shares of the company’s stock after acquiring an additional 1,511 shares during the quarter. Xponance Inc.’s holdings in Northern Oil and Gas were worth $296,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NOG. Legacy Investment Solutions LLC acquired a new stake in Northern Oil and Gas in the third quarter valued at $25,000. Blue Trust Inc. increased its holdings in Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after acquiring an additional 801 shares in the last quarter. Avior Wealth Management LLC increased its holdings in Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after acquiring an additional 259 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Northern Oil and Gas during the fourth quarter worth about $66,000. Finally, Quarry LP lifted its holdings in shares of Northern Oil and Gas by 74.4% in the third quarter. Quarry LP now owns 1,974 shares of the company’s stock valued at $70,000 after purchasing an additional 842 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NOG. 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 research report on Monday, December 16th. Truist Financial boosted their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Piper Sandler decreased their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Citigroup cut their target price on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Finally, Capital One Financial cut shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.33.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $30.83 on Friday. 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 firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 6.00 and a beta of 1.84. Northern Oil and Gas, Inc. has a one year low of $26.60 and a one year high of $44.31. The company has a 50 day moving average price of $33.48 and a 200 day moving average price of $36.84.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The firm had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. Sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.84%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s payout ratio is presently 35.02%.

Northern Oil and Gas announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Northern Oil and Gas 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 purchased at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the transaction, the director now owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. This trade represents a 2.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nicholas L. O’grady acquired 1,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost 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. This trade represents a 0.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.80% of the company’s stock.

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.