Verity Asset Management Inc. Sells 4,605 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Verity Asset Management Inc. decreased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 34.5% during the fourth quarter, HoldingsChannel reports. The firm 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in Northern Oil and Gas by 10.2% in the second quarter. The Manufacturers Life Insurance Company now owns 56,288 shares of the company’s stock worth $2,092,000 after purchasing an additional 5,192 shares during the period. Algert Global LLC purchased a new stake in shares of Northern Oil and Gas in the 2nd quarter worth about $340,000. Creative Planning increased its stake in shares of Northern Oil and Gas by 80.6% in the 2nd quarter. Creative Planning now owns 23,712 shares of the company’s stock worth $881,000 after acquiring an additional 10,580 shares in the last quarter. GAMMA Investing LLC lifted its position in Northern Oil and Gas by 58.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock valued at $62,000 after acquiring an additional 647 shares during the period. Finally, Insight Wealth Strategies LLC boosted its stake in Northern Oil and Gas by 2.2% during the third quarter. Insight Wealth Strategies LLC now owns 27,799 shares of the company’s stock worth $984,000 after acquiring an additional 602 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Insider Buying and Selling at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 1,836 shares of company stock valued at $72,869. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Trading Down 0.4 %

Shares of NYSE:NOG opened at $35.82 on Tuesday. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $44.31. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 4.30 and a beta of 1.82. 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 stock’s 50-day simple moving average is $39.48 and its two-hundred day simple moving average is $38.74.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.20. The company had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The firm’s quarterly revenue was up 140.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 earnings per share. Analysts expect that Northern Oil and Gas, Inc. will post 5.3 EPS 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. Stockholders of record on Friday, March 28th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.02%. This is a positive change 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 dividend payout ratio is 20.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a research note on Monday, December 16th. 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. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price target on shares of Northern Oil and Gas in a research note on Friday, January 10th. Finally, Piper Sandler dropped their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Northern Oil and Gas currently has a consensus rating of “Hold” and a consensus target price of $47.56.

Northern Oil and Gas 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.