Hudson Bay Capital Management LP Sells 20,607 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Hudson Bay Capital Management LP decreased its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 22.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 69,765 shares of the company’s stock after selling 20,607 shares during the period. Hudson Bay Capital Management LP owned approximately 0.07% of Northern Oil and Gas worth $2,592,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of Northern Oil and Gas by 297.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company’s stock valued at $77,000 after acquiring an additional 1,570 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Northern Oil and Gas by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 481,797 shares of the company’s stock valued at $17,904,000 after acquiring an additional 11,690 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Northern Oil and Gas by 36.1% during the 4th quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company’s stock valued at $2,877,000 after acquiring an additional 20,550 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Northern Oil and Gas during the 4th quarter valued at $909,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Northern Oil and Gas by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,058,899 shares of the company’s stock valued at $39,349,000 after acquiring an additional 73,256 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Insider Buying and Selling

In other Northern Oil and Gas news, Director Bahram Akradi acquired 40,000 shares of Northern Oil and Gas stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the purchase, the director now directly owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. This represents a 2.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Nicholas L. O’grady acquired 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.90% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $29.61 on Wednesday. The firm has a market cap of $2.92 billion, a PE ratio of 5.76 and a beta of 1.47. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $44.31. The company has a fifty day moving average price of $26.30 and a 200 day moving average price of $33.90.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.21. The firm 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%. The company’s revenue for the quarter was up 51.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 EPS. Research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

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

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas’s payout ratio is presently 28.04%.

Wall Street Analyst Weigh In

A number of research firms recently commented on NOG. Citigroup lowered their price objective on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Mizuho lowered their price objective on shares of Northern Oil and Gas from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday. Capital One Financial cut shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. Raymond James upped their price objective on shares of Northern Oil and Gas from $35.00 to $36.00 and gave the company a “strong-buy” rating in a research report on Tuesday. Finally, Morgan Stanley lowered their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $40.56.

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.