Northern Oil and Gas, Inc. (NYSE:NOG) Shares Acquired by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. boosted its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 59.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,896 shares of the company’s stock after acquiring an additional 36,887 shares during the period. EFG Asset Management North America Corp. owned 0.10% of Northern Oil and Gas worth $3,675,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NOG. Pathstone Holdings LLC raised its stake in shares of Northern Oil and Gas by 16.3% in the 3rd quarter. Pathstone Holdings LLC now owns 39,381 shares of the company’s stock valued at $1,396,000 after purchasing an additional 5,524 shares in the last quarter. Intech Investment Management LLC bought a new position in Northern Oil and Gas during the 3rd quarter worth approximately $951,000. Charles Schwab Investment Management Inc. grew its position in shares of Northern Oil and Gas by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock worth $34,902,000 after acquiring an additional 103,314 shares in the last quarter. Eagle Asset Management Inc. grew its position in shares of Northern Oil and Gas by 24.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 134,122 shares of the company’s stock worth $4,749,000 after acquiring an additional 26,649 shares in the last quarter. Finally, Great Valley Advisor Group Inc. increased its holdings in shares of Northern Oil and Gas by 14.0% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 19,240 shares of the company’s stock valued at $681,000 after acquiring an additional 2,370 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley set a $43.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, January 22nd. Capital One Financial downgraded shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. Piper Sandler cut their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Citigroup lowered their target price on 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. Finally, Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target on the stock. in a report on Monday, December 16th. One 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.89.

Northern Oil and Gas Stock Up 2.7 %

NOG opened at $30.93 on Tuesday. The stock’s 50 day moving average price is $34.13 and its 200 day moving average price is $36.96. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The stock has a market cap of $3.07 billion, a P/E ratio of 6.02 and a beta of 1.84. Northern Oil and Gas, Inc. has a 12 month low of $26.60 and a 12 month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last issued 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 analyst estimates of $552.34 million. As a group, research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 5.82%. 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 payout ratio is 35.02%.

Northern Oil and Gas declared that its board has authorized a stock buyback plan on Tuesday, March 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 3.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Northern Oil and Gas

In other news, Director Bahram Akradi acquired 40,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was acquired 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 directly owns 1,662,016 shares in the company, valued at $46,586,308.48. This represents a 2.47 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the transaction, the president now directly owns 96,223 shares of the company’s stock, valued at $3,752,697. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Company 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.