Raymond James & Associates Sells 47,231 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Raymond James & Associates cut its position in Northern Oil and Gas, Inc. (NYSE:NOGFree Report) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 560,914 shares of the company’s stock after selling 47,231 shares during the period. Raymond James & Associates owned about 0.56% of Northern Oil and Gas worth $20,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of NOG. BlackRock Inc. grew its position in shares of Northern Oil and Gas by 9.6% during the second quarter. BlackRock Inc. now owns 11,963,727 shares of the company’s stock worth $410,595,000 after purchasing an additional 1,048,699 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Northern Oil and Gas by 26.7% in the third quarter. Vanguard Group Inc. now owns 7,759,894 shares of the company’s stock worth $312,181,000 after buying an additional 1,635,739 shares in the last quarter. State Street Corp boosted its position in shares of Northern Oil and Gas by 12.3% during the first quarter. State Street Corp now owns 4,515,908 shares of the company’s stock worth $138,625,000 after acquiring an additional 494,969 shares during the last quarter. Invesco Ltd. boosted its stake in Northern Oil and Gas by 19.0% during the third quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock valued at $152,318,000 after buying an additional 605,197 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Northern Oil and Gas by 27.0% during the third quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock valued at $103,085,000 after purchasing an additional 545,297 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NOG shares. Piper Sandler reduced their price objective on Northern Oil and Gas from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Citigroup dropped their price objective on shares of Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Jefferies Financial Group increased their target price on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Bank of America downgraded shares of Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price target on the stock. in a report on Friday, January 5th. Finally, Raymond James dropped their target price on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.40.

View Our Latest Stock Analysis on NOG

Insiders Place Their Bets

In other news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $35.63, for a total value of $133,612.50. Following the sale, the chief executive officer now directly owns 220,825 shares in the company, valued at approximately $7,867,994.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider James B. Evans sold 945 shares of Northern Oil and Gas stock in a transaction on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the sale, the insider now directly owns 83,872 shares in the company, valued at $3,187,136. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $35.63, for a total value of $133,612.50. Following the completion of the sale, the chief executive officer now owns 220,825 shares in the company, valued at approximately $7,867,994.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,794 shares of company stock worth $284,252. 3.20% of the stock is owned by corporate insiders.

Northern Oil and Gas Price Performance

Shares of NOG stock opened at $39.68 on Monday. Northern Oil and Gas, Inc. has a twelve month low of $29.18 and a twelve month high of $43.64. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90. The stock has a fifty day simple moving average of $35.48 and a two-hundred day simple moving average of $36.95. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 3.95 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOGGet Free Report) last posted its earnings results on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). The business had revenue of $543.40 million for the quarter, compared to analysts’ expectations of $555.31 million. Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period last year, the business posted $1.43 EPS. On average, analysts predict that Northern Oil and Gas, Inc. will post 5.68 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.60 annualized dividend and a yield of 4.03%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 15.94%.

About Northern Oil and Gas

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Northern Oil and Gas (NYSE:NOG)

Receive News & Ratings for Northern Oil and Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Oil and Gas and related companies with MarketBeat.com's FREE daily email newsletter.