Victory Capital Management Inc. Lowers Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Victory Capital Management Inc. lessened its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 4.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 802,131 shares of the company’s stock after selling 38,777 shares during the period. Victory Capital Management Inc. owned 0.80% of Northern Oil and Gas worth $29,807,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Keybank National Association OH raised its position in shares of Northern Oil and Gas by 11.2% in the fourth quarter. Keybank National Association OH now owns 12,567 shares of the company’s stock worth $467,000 after buying an additional 1,261 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Northern Oil and Gas by 7.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,058,899 shares of the company’s stock worth $39,349,000 after buying an additional 73,256 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Northern Oil and Gas in the fourth quarter worth $66,000. Smartleaf Asset Management LLC raised its position in shares of Northern Oil and Gas by 297.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company’s stock worth $77,000 after buying an additional 1,570 shares in the last quarter. Finally, Wakefield Asset Management LLLP purchased a new stake in shares of Northern Oil and Gas in the fourth quarter worth $1,038,000. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on NOG shares. Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research note on Monday, December 16th. Citigroup reduced their target price on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Truist Financial increased their target price on 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. Morgan Stanley set a $43.00 target price on Northern Oil and Gas in a research note on Wednesday, January 22nd. Finally, Piper Sandler reduced their target price on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $46.89.

Northern Oil and Gas Stock Up 2.4 %

NYSE NOG opened at $27.53 on Monday. 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 capitalization of $2.73 billion, a PE ratio of 5.36 and a beta of 1.84. Northern Oil and Gas, Inc. has a 1 year low of $26.59 and a 1 year high of $44.31. The business’s 50-day moving average is $36.12 and its 200 day moving average is $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 analysts’ expectations of $552.34 million. Sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.54%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 35.02%.

Insider Activity

In other Northern Oil and Gas news, Director Bahram Akradi bought 40,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the completion of the acquisition, the director now owns 1,662,016 shares of the company’s stock, valued at approximately $46,586,308.48. This trade represents a 2.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, January 6th. The shares were 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 $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale 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.