Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Aristotle Capital Boston LLC

Aristotle Capital Boston LLC trimmed its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 487,617 shares of the company’s stock after selling 37,817 shares during the period. Aristotle Capital Boston LLC owned about 0.49% of Northern Oil and Gas worth $18,120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Avior Wealth Management LLC grew its position in shares of Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after purchasing an additional 259 shares during the period. First Horizon Advisors Inc. boosted its stake in Northern Oil and Gas by 9.1% in the 4th quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company’s stock worth $129,000 after buying an additional 289 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in Northern Oil and Gas by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company’s stock valued at $487,000 after buying an additional 298 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of Northern Oil and Gas by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,378 shares of the company’s stock valued at $386,000 after acquiring an additional 329 shares during the last quarter. Finally, Legato Capital Management LLC lifted its holdings in shares of Northern Oil and Gas by 5.8% during the 4th quarter. Legato Capital Management LLC now owns 6,383 shares of the company’s stock worth $237,000 after acquiring an additional 349 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Bank of America lowered their target price on shares of Northern Oil and Gas from $48.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Royal Bank of Canada dropped their price objective on Northern Oil and Gas from $40.00 to $34.00 and set a “sector perform” rating for the company in a report on Monday, April 14th. Truist Financial increased their target price on 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. Piper Sandler dropped their price target on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Finally, Capital One Financial lowered Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.50.

Insiders Place Their Bets

In other Northern Oil and Gas news, Director Bahram Akradi acquired 40,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the acquisition, the director now directly owns 1,662,016 shares of the company’s stock, valued at $46,586,308.48. This trade represents a 2.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas L. O’grady bought 1,000 shares of Northern Oil and Gas stock in a transaction dated Friday, March 7th. The shares were acquired at an average price 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 in the company, valued at approximately $6,215,673.72. The trade was a 0.44 % increase in their position. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by company insiders.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $25.43 on Friday. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 4.95 and a beta of 1.49. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $44.31. The business has a 50-day moving average of $26.74 and a 200-day moving average of $34.46.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.21. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The company had revenue of $602.10 million during the quarter, compared to the consensus estimate of $568.87 million. During the same quarter last year, the company earned $1.28 earnings per share. Northern Oil and Gas’s revenue for the quarter was up 51.9% on a year-over-year basis. On average, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.08%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is 28.04%.

Northern Oil and Gas declared that its Board of Directors has authorized a stock buyback program on Tuesday, March 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.