Motley Fool Asset Management LLC Has $2.08 Million Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Motley Fool Asset Management LLC grew its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,231 shares of the company’s stock after buying an additional 4,518 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Northern Oil and Gas were worth $2,084,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NOG. Vanguard Group Inc. grew its holdings in shares of Northern Oil and Gas by 26.7% during the third quarter. Vanguard Group Inc. now owns 7,759,894 shares of the company’s stock valued at $312,181,000 after buying an additional 1,635,739 shares during the last quarter. Invesco Ltd. boosted its holdings in Northern Oil and Gas by 19.0% during the third quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock worth $152,318,000 after purchasing an additional 605,197 shares during the last quarter. American Century Companies Inc. boosted its holdings in Northern Oil and Gas by 27.0% during the third quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock worth $103,085,000 after purchasing an additional 545,297 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Northern Oil and Gas by 55.9% during the third quarter. New York State Common Retirement Fund now owns 636,082 shares of the company’s stock worth $25,590,000 after purchasing an additional 228,009 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Northern Oil and Gas by 13.8% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,445,517 shares of the company’s stock worth $58,153,000 after purchasing an additional 175,000 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on NOG. Bank of America cut shares of Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price target on the stock. in a report on Friday, January 5th. Piper Sandler boosted their price target 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. StockNews.com upgraded shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Monday. Raymond James cut their price target on shares of Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Finally, Jefferies Financial Group boosted their target price on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One 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. According to data from MarketBeat, Northern Oil and Gas has a consensus rating of “Moderate Buy” and an average price target of $47.30.

Insider Buying and Selling

In related news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the sale, the insider now owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the sale, the insider now owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the sale, the president now directly owns 122,359 shares in the company, valued at approximately $4,649,642. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,944 shares of company stock valued at $436,614. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Shares of NOG stock traded up $0.19 during trading on Friday, reaching $43.25. 1,025,306 shares of the company’s stock traded hands, compared to its average volume of 1,267,936. The company has a market capitalization of $4.37 billion, a P/E ratio of 4.31 and a beta of 1.86. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90. The firm’s 50-day moving average is $38.77 and its 200 day moving average is $37.31. Northern Oil and Gas, Inc. has a 1 year low of $29.57 and a 1 year high of $43.64.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). The business had revenue of $543.40 million for the quarter, compared to analysts’ expectations of $555.31 million. Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 earnings per share. Equities research analysts expect that Northern Oil and Gas, Inc. will post 5.53 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 15.94%.

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.