10,039 Shares in Northern Oil and Gas, Inc. (NYSE:NOG) Acquired by iSAM Funds UK Ltd

iSAM Funds UK Ltd bought a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,039 shares of the company’s stock, valued at approximately $373,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC bought a new stake in Northern Oil and Gas during the 4th quarter worth approximately $29,000. Blue Trust Inc. increased its holdings in shares of Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after buying an additional 801 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of 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 worth $51,000 after buying an additional 259 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Northern Oil and Gas in the 4th quarter worth $66,000. Finally, Smartleaf Asset Management LLC increased its holdings 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 worth $77,000 after buying an additional 1,570 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Trading Down 1.9%

Shares of NOG opened at $27.72 on Wednesday. The firm has a fifty day simple moving average of $26.34 and a two-hundred day simple moving average of $33.63. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve 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 stock has a market capitalization of $2.74 billion, a P/E ratio of 5.39 and a beta of 1.47.

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

Northern Oil and Gas declared that its board has initiated a share repurchase program on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas’s payout ratio is presently 28.04%.

Insider Activity

In other Northern Oil and Gas news, Director Bahram Akradi acquired 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $28.03 per share, with a total value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas L. O’grady acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the acquisition, the chief executive officer now 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. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citigroup decreased their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Mizuho decreased their price target on shares of Northern Oil and Gas from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Bank of America decreased 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, April 1st. Raymond James reissued a “strong-buy” rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Finally, Royal Bank of Canada decreased their price target on shares of Northern Oil and Gas from $40.00 to $34.00 and set a “sector perform” rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.56.

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.