AlphaQuest LLC Makes New Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

AlphaQuest LLC purchased a new position in Northern Oil and Gas, Inc. (NYSE:NOG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 32,696 shares of the company’s stock, valued at approximately $1,215,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOG. Raymond James Financial Inc. purchased a new stake in shares of Northern Oil and Gas in the 4th quarter valued at $21,691,000. Bridgewater Associates LP boosted its stake in shares of Northern Oil and Gas by 135.6% in the 3rd quarter. Bridgewater Associates LP now owns 511,170 shares of the company’s stock valued at $18,101,000 after purchasing an additional 294,223 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Northern Oil and Gas by 58.6% in the 3rd quarter. Jennison Associates LLC now owns 521,115 shares of the company’s stock valued at $18,453,000 after purchasing an additional 192,539 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of 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 valued at $39,834,000 after purchasing an additional 130,979 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 valued at $34,902,000 after purchasing an additional 103,314 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NOG. Morgan Stanley set a $43.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, January 22nd. Piper Sandler cut their price objective on shares of 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. Citigroup lowered their price target on shares of 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. Capital One Financial lowered shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Finally, Truist Financial upped their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Northern Oil and Gas has an average rating of “Hold” and an average target price of $46.89.

Northern Oil and Gas Stock Up 2.4 %

Shares of NYSE NOG opened at $27.53 on Monday. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a 12 month low of $26.59 and a 12 month high of $44.31. The firm has a market capitalization of $2.73 billion, a PE ratio of 5.36 and a beta of 1.84. The firm has a fifty day simple moving average of $36.12 and a two-hundred day simple moving average of $37.69.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data 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 24.41% and a net margin of 23.38%. The company had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. Equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be issued a $0.45 dividend. The ex-dividend date is Friday, March 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 6.54%. Northern Oil and Gas’s dividend payout ratio is 35.02%.

Insiders Place Their Bets

In other news, President Adam A. Dirlam sold 836 shares of the company’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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bahram Akradi bought 40,000 shares of Northern Oil and Gas stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the completion of the transaction, the director now directly owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. This trade represents a 2.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.80% of the company’s stock.

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.