SNS Financial Group LLC Purchases Shares of 5,400 Northern Oil and Gas, Inc. (NYSE:NOG)

SNS Financial Group LLC acquired a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,400 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds have also modified their holdings of the company. Convergence Investment Partners LLC acquired a new position in shares of Northern Oil and Gas in the fourth quarter worth about $1,268,000. New York State Common Retirement Fund boosted its stake in Northern Oil and Gas by 13.9% in the 4th quarter. New York State Common Retirement Fund now owns 1,071,966 shares of the company’s stock worth $39,834,000 after purchasing an additional 130,979 shares during the period. Venturi Wealth Management LLC acquired a new position in Northern Oil and Gas in the 4th quarter worth approximately $104,000. Principal Financial Group Inc. grew its position in Northern Oil and Gas by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 481,797 shares of the company’s stock worth $17,904,000 after purchasing an additional 11,690 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Northern Oil and Gas by 3.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 51,099 shares of the company’s stock valued at $1,899,000 after purchasing an additional 1,744 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a research report on Monday, December 16th. Piper Sandler decreased their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Truist Financial upped their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada reduced their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $47.00.

Northern Oil and Gas Trading Up 0.2 %

Shares of NYSE NOG opened at $35.48 on Friday. The business has a 50 day simple moving average of $37.62 and a 200 day simple moving average of $38.30. Northern Oil and Gas, Inc. has a 52 week low of $33.17 and a 52 week high of $44.31. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 4.26 and a beta of 1.81. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The business had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. On average, research analysts predict that Northern Oil and Gas, Inc. will post 5.27 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. Shareholders of record on Friday, March 28th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.07%. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio is presently 20.17%.

Insiders Place Their Bets

In other news, President Adam A. Dirlam sold 836 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the transaction, the president now owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. This represents a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.80% of the company’s stock.

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.