Verity Asset Management Inc. Decreases Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Verity Asset Management Inc. cut its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 34.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,730 shares of the company’s stock after selling 4,605 shares during the quarter. Verity Asset Management Inc.’s holdings in Northern Oil and Gas were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in shares of 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 valued at $80,884,000 after buying an additional 100,761 shares in the last quarter. Copeland Capital Management LLC raised its holdings in Northern Oil and Gas by 0.9% during the 4th quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company’s stock valued at $78,590,000 after acquiring an additional 18,195 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Northern Oil and Gas by 11.7% during the third 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. New York State Common Retirement Fund boosted its holdings 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 worth $33,320,000 after acquiring an additional 275,704 shares during the period. Finally, Emerald Advisers LLC grew its position in shares of Northern Oil and Gas by 7.9% in the third quarter. Emerald Advisers LLC now owns 611,509 shares of the company’s stock valued at $21,654,000 after purchasing an additional 44,510 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Down 0.4 %

Shares of NYSE:NOG opened at $35.82 on Tuesday. The firm has a fifty day moving average of $39.48 and a 200 day moving average of $38.74. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $44.31. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $3.58 billion, a PE ratio of 4.30 and a beta of 1.82.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. Northern Oil and Gas’s quarterly revenue was up 140.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 EPS. As a group, research analysts anticipate that Northern Oil and Gas, Inc. will post 5.3 EPS for the current fiscal 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 paid a $0.45 dividend. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s payout ratio is 20.17%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Piper Sandler cut their target price on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Truist Financial boosted their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 target price on shares of Northern Oil and Gas in a research note on Friday, January 10th. Finally, Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Oil and Gas presently has an average rating of “Hold” and an average price target of $47.56.

Insider Activity

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares of the company’s stock, valued at $3,752,697. This represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 1,836 shares of company stock valued at $72,869. 2.80% of the stock is currently owned by company insiders.

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.