Headlands Technologies LLC Takes Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Headlands Technologies LLC purchased a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 776 shares of the company’s stock, valued at approximately $29,000.

A number of other hedge funds have also recently added to or reduced their stakes in NOG. Blue Trust Inc. raised its stake in shares of Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after acquiring an additional 801 shares during the last quarter. Avior Wealth Management LLC boosted its position in Northern Oil and Gas by 23.3% in the 4th 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 last quarter. SBI Securities Co. Ltd. bought a new position in Northern Oil and Gas in the 4th quarter valued at $66,000. Smartleaf Asset Management LLC increased its stake in shares of Northern Oil and Gas by 297.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company’s stock valued at $77,000 after buying an additional 1,570 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Northern Oil and Gas by 21.0% during the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock worth $79,000 after acquiring an additional 368 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

NOG opened at $20.61 on Wednesday. The stock has a market cap of $2.04 billion, a P/E ratio of 4.01 and a beta of 1.49. Northern Oil and Gas, Inc. has a 12 month low of $20.21 and a 12 month 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. The company has a fifty day simple moving average of $31.08 and a 200 day simple moving average of $36.27.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly 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). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The business had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. On average, research analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS 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. Shareholders of record on Friday, March 28th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 8.73%. This is a positive change 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 has initiated a share buyback plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have weighed in on NOG shares. Piper Sandler dropped their price objective on 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. Bank of America lowered their price target on shares of Northern Oil and Gas from $48.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Citigroup reduced their price objective on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Capital One Financial lowered shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Finally, Royal Bank of Canada cut their price target on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Northern Oil and Gas has a consensus rating of “Hold” and a consensus price target of $45.44.

Insider Activity

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