Semanteon Capital Management LP Takes Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Semanteon Capital Management LP bought a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,139 shares of the company’s stock, valued at approximately $823,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in shares of Northern Oil and Gas by 7.1% in the 3rd quarter. Empowered Funds LLC now owns 62,094 shares of the company’s stock worth $2,199,000 after buying an additional 4,104 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Northern Oil and Gas by 10.0% in the 3rd quarter. Natixis Advisors LLC now owns 90,715 shares of the company’s stock valued at $3,212,000 after acquiring an additional 8,259 shares during the last quarter. Pathstone Holdings LLC grew its stake in shares of Northern Oil and Gas by 16.3% in the 3rd quarter. Pathstone Holdings LLC now owns 39,381 shares of the company’s stock worth $1,396,000 after purchasing an additional 5,524 shares during the last quarter. Jennison Associates LLC raised its holdings 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 worth $18,453,000 after purchasing an additional 192,539 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in Northern Oil and Gas in the third quarter worth approximately $951,000. Institutional investors own 98.80% of the company’s stock.

Analyst Ratings Changes

NOG has been the subject of several research reports. Capital One Financial lowered Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Monday, December 16th. Citigroup dropped their target price on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Morgan Stanley set a $43.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, January 22nd. Finally, Piper Sandler decreased 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. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.89.

Insider Buying and Selling at Northern Oil and Gas

In other news, CEO Nicholas L. O’grady bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the purchase, the chief executive officer now owns 226,189 shares of the company’s stock, valued at $6,215,673.72. This trade represents a 0.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bahram Akradi purchased 40,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the purchase, the director now directly owns 1,662,016 shares of the company’s stock, valued at approximately $46,586,308.48. This represents a 2.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.80% of the company’s stock.

Northern Oil and Gas Price Performance

NYSE NOG opened at $30.81 on Friday. 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 firm has a market cap of $3.05 billion, a P/E ratio of 5.99 and a beta of 1.84. The stock’s 50-day moving average is $34.52 and its two-hundred day moving average is $37.07. Northern Oil and Gas, Inc. has a fifty-two week low of $26.60 and a fifty-two week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The firm had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. On average, analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.84%. 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 payout ratio is currently 35.02%.

Northern Oil and Gas declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

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.