Northern Oil and Gas, Inc. (NYSE:NOG) Holdings Lifted by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp increased its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,232 shares of the company’s stock after acquiring an additional 876 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Northern Oil and Gas were worth $863,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. EFG Asset Management North America Corp. grew its position in Northern Oil and Gas by 59.5% during the fourth quarter. EFG Asset Management North America Corp. now owns 98,896 shares of the company’s stock valued at $3,675,000 after purchasing an additional 36,887 shares in the last quarter. EntryPoint Capital LLC grew its holdings in shares of Northern Oil and Gas by 43.0% during the 4th quarter. EntryPoint Capital LLC now owns 11,296 shares of the company’s stock valued at $420,000 after acquiring an additional 3,398 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Northern Oil and Gas by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company’s stock worth $418,916,000 after acquiring an additional 166,501 shares during the last quarter. LPL Financial LLC boosted its position in Northern Oil and Gas by 7.7% during the fourth quarter. LPL Financial LLC now owns 64,769 shares of the company’s stock valued at $2,407,000 after purchasing an additional 4,631 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Northern Oil and Gas in the fourth quarter valued at about $739,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Down 1.3 %

NOG stock opened at $29.82 on Wednesday. The business’s 50-day simple moving average is $32.79 and its 200 day simple moving average is $36.79. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. The company has a market cap of $2.96 billion, a PE ratio of 5.80 and a beta of 1.84. Northern Oil and Gas, Inc. has a twelve month low of $26.60 and a twelve month high of $44.31.

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). The firm had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. On average, research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

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

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid 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 dividend on an annualized basis and a dividend yield of 6.04%. Northern Oil and Gas’s dividend payout ratio is currently 35.02%.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas L. O’grady acquired 1,000 shares of the stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the purchase, the chief executive officer now owns 226,189 shares in the company, valued at approximately $6,215,673.72. This trade represents a 0.44 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NOG. Capital One Financial downgraded Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Piper Sandler decreased their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Bank of America cut their price target on shares of Northern Oil and Gas from $48.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday. Truist Financial increased their target price on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada reduced their price target 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.44.

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.