Holocene Advisors LP Takes $1.08 Million Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Holocene Advisors LP purchased a new position in Northern Oil and Gas, Inc. (NYSE:NOG) during the 3rd quarter, HoldingsChannel reports. The firm purchased 30,483 shares of the company’s stock, valued at approximately $1,079,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in Northern Oil and Gas by 45.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock valued at $93,744,000 after buying an additional 789,985 shares during the last quarter. American Century Companies Inc. lifted its position in Northern Oil and Gas by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after purchasing an additional 552,645 shares during the last quarter. abrdn plc acquired a new position in Northern Oil and Gas during the 3rd quarter valued at about $17,096,000. Bridgewater Associates LP grew its position in Northern Oil and Gas by 135.6% in the 3rd quarter. Bridgewater Associates LP now owns 511,170 shares of the company’s stock worth $18,101,000 after purchasing an additional 294,223 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Northern Oil and Gas by 41.4% in the third quarter. New York State Common Retirement Fund now owns 940,987 shares of the company’s stock valued at $33,320,000 after purchasing an additional 275,704 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analyst Ratings Changes

NOG has been the subject of several analyst reports. Royal Bank of Canada downgraded Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $43.00 to $45.00 in a research report on Wednesday, November 20th. Mizuho initiated coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price target for the company. Morgan Stanley lowered their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Truist Financial increased their target price on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Piper Sandler boosted their price target on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, three have given 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 company has an average rating of “Moderate Buy” and an average target price of $47.50.

Northern Oil and Gas Stock Down 3.1 %

NOG stock opened at $40.23 on Friday. The firm has a market cap of $4.02 billion, a PE ratio of 4.83 and a beta of 1.85. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $44.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a 50 day simple moving average of $39.58 and a 200 day simple moving average of $38.74.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.20. The business had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The company’s revenue was up 140.0% compared to the same quarter last year. During the same period last year, the company posted $1.73 EPS. Equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be issued a dividend of $0.42 per share. The ex-dividend date is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 4.18%. Northern Oil and Gas’s payout ratio is presently 20.17%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, CFO Chad W. Allen sold 1,500 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at $3,351,680. The trade was a 1.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the sale, the president now directly owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,508 shares of company stock valued at $248,113. 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.