LPL Financial LLC Purchases 4,631 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

LPL Financial LLC boosted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,769 shares of the company’s stock after buying an additional 4,631 shares during the quarter. LPL Financial LLC owned approximately 0.06% of Northern Oil and Gas worth $2,407,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Stifel Financial Corp raised its stake in shares of Northern Oil and Gas by 7.6% during the third quarter. Stifel Financial Corp now owns 87,254 shares of the company’s stock valued at $3,090,000 after acquiring an additional 6,168 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Northern Oil and Gas by 21.0% in the third quarter. Public Employees Retirement System of Ohio now owns 100,140 shares of the company’s stock valued at $3,546,000 after purchasing an additional 17,383 shares during the period. Geode Capital Management LLC raised its position in Northern Oil and Gas by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock worth $80,884,000 after purchasing an additional 100,761 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Northern Oil and Gas by 21.0% during the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock worth $79,000 after buying an additional 368 shares during the period. Finally, Doliver Advisors LP grew its position in shares of Northern Oil and Gas by 2.9% in the 4th quarter. Doliver Advisors LP now owns 28,667 shares of the company’s stock valued at $1,065,000 after buying an additional 800 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Up 3.7 %

Shares of Northern Oil and Gas stock opened at $22.53 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $44.31. The stock has a 50 day moving average price of $30.04 and a two-hundred day moving average price of $35.91. The stock has a market capitalization of $2.23 billion, a PE ratio of 4.38 and a beta of 1.49.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The business had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. As a group, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.99%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio is currently 35.02%.

Northern Oil and Gas announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NOG. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research report on Monday, December 16th. Citigroup lowered their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Capital One Financial lowered shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Truist Financial lifted their target price on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Piper Sandler cut their target price on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.44.

Insider Activity at Northern Oil and Gas

In other news, CEO Nicholas L. O’grady purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $27.48 per share, with a total value of $27,480.00. Following the completion of the transaction, the chief executive officer now directly owns 226,189 shares of the company’s stock, valued at approximately $6,215,673.72. This trade represents a 0.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bahram Akradi purchased 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the completion of the acquisition, the director now owns 1,662,016 shares of the company’s stock, valued at $46,586,308.48. The trade was a 2.47 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is owned by insiders.

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.