Toroso Investments LLC Makes New Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

Toroso Investments LLC purchased a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,285 shares of the company’s stock, valued at approximately $1,344,000. Toroso Investments LLC owned 0.05% of Northern Oil and Gas as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Spire Wealth Management bought a new position in Northern Oil and Gas during the first quarter worth about $28,000. CWM LLC lifted its stake in Northern Oil and Gas by 89.5% during the first quarter. CWM LLC now owns 1,080 shares of the company’s stock worth $33,000 after purchasing an additional 510 shares during the period. Captrust Financial Advisors raised its stake in shares of Northern Oil and Gas by 1,349.4% in the second quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock valued at $29,000 after acquiring an additional 1,066 shares during the last quarter. Clear Street Markets LLC acquired a new position in shares of Northern Oil and Gas in the 4th quarter worth approximately $43,000. Finally, Ellevest Inc. acquired a new position in shares of Northern Oil and Gas in the 1st quarter worth approximately $43,000. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $40.14 on Friday. The firm has a fifty day moving average of $39.84 and a two-hundred day moving average of $34.63. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 2.81 and a beta of 1.98. Northern Oil and Gas, Inc. has a 52 week low of $24.21 and a 52 week high of $43.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.02 and a current ratio of 1.02.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Thursday, August 3rd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.35 by $0.14. The company had revenue of $476.60 million during the quarter, compared to analysts’ expectations of $414.01 million. Northern Oil and Gas had a net margin of 55.68% and a return on equity of 57.03%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 EPS. As a group, equities research analysts predict that Northern Oil and Gas, Inc. will post 7.29 EPS for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Thursday, September 28th will be given a dividend of $0.38 per share. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $1.52 annualized dividend and a dividend yield of 3.79%. Northern Oil and Gas’s payout ratio is presently 10.38%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 22,500 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $39.06, for a total transaction of $878,850.00. Following the completion of the sale, the chief executive officer now owns 177,255 shares in the company, valued at approximately $6,923,580.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider James B. Evans sold 1,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $40.00, for a total value of $40,000.00. Following the completion of the sale, the insider now owns 43,987 shares in the company, valued at approximately $1,759,480. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nicholas L. O’grady sold 22,500 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $39.06, for a total transaction of $878,850.00. Following the completion of the sale, the chief executive officer now owns 177,255 shares of the company’s stock, valued at approximately $6,923,580.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,291 shares of company stock worth $6,212,167. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

NOG has been the topic of several recent analyst reports. TheStreet raised Northern Oil and Gas from a “c+” rating to a “b-” rating in a report on Friday, June 30th. Raymond James boosted their target price on Northern Oil and Gas from $44.00 to $54.00 and gave the stock a “strong-buy” rating in a report on Friday, September 8th. Piper Sandler downgraded Northern Oil and Gas from an “overweight” rating to a “neutral” rating and set a $46.00 target price on the stock. in a report on Monday, August 14th. Royal Bank of Canada boosted their target price on Northern Oil and Gas from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. Finally, Northland Securities boosted their target price on Northern Oil and Gas from $48.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.22.

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.