Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 1.8% during the 4th quarter, Holdings Channel reports. The fund owned 757,659 shares of the company’s stock after selling 13,652 shares during the quarter. Victory Capital Management Inc.’s holdings in Northern Oil and Gas were worth $28,086,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new stake in Northern Oil and Gas in the 3rd quarter valued at approximately $67,000. Covestor Ltd lifted its holdings in shares of Northern Oil and Gas by 44,860.0% in the 3rd quarter. Covestor Ltd now owns 2,248 shares of the company’s stock valued at $90,000 after buying an additional 2,243 shares during the period. Assetmark Inc. boosted its stake in shares of Northern Oil and Gas by 14.2% in the third quarter. Assetmark Inc. now owns 3,061 shares of the company’s stock valued at $123,000 after buying an additional 380 shares in the last quarter. Hanseatic Management Services Inc. acquired a new position in Northern Oil and Gas during the third quarter worth $159,000. Finally, Commonwealth Equity Services LLC acquired a new position in Northern Oil and Gas during the third quarter worth $209,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $40.72 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.96 and a current ratio of 0.96. The business’s fifty day moving average price is $39.83 and its two-hundred day moving average price is $37.32. The stock has a market cap of $4.12 billion, a PE ratio of 6.60 and a beta of 1.84. Northern Oil and Gas, Inc. has a one year low of $29.57 and a one year high of $43.75.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.10. The business had revenue of $396.35 million for the quarter, compared to the consensus estimate of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The business’s revenue was down 31.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.76 earnings per share. On average, analysts forecast that Northern Oil and Gas, Inc. will post 5.46 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Thursday, June 27th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 annualized dividend and a dividend yield of 3.93%. Northern Oil and Gas’s dividend payout ratio is currently 25.93%.

Analysts Set New Price Targets

A number of equities research analysts have commented on NOG shares. StockNews.com raised Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Piper Sandler boosted their price objective on shares of Northern Oil and Gas from $38.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 target price on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Morgan Stanley boosted their price target on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, Truist Financial raised their price objective on Northern Oil and Gas from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.90.

Insider Transactions at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 2,088 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $79,344.00. Following the sale, the president now owns 122,359 shares in the company, valued at $4,649,642. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Northern Oil and Gas news, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the completion of the sale, the insider now owns 73,753 shares in the company, valued at approximately $3,097,626. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Adam A. Dirlam sold 2,088 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the transaction, the president now owns 122,359 shares in the company, valued at $4,649,642. The disclosure for this sale can be found here. Insiders sold a total of 10,944 shares of company stock worth $436,614 over the last ninety days. 2.80% of the stock is currently owned by corporate insiders.

About Northern Oil and Gas

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.