Isthmus Partners LLC Has $1.70 Million Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Isthmus Partners LLC lessened its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 20.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,943 shares of the company’s stock after selling 12,504 shares during the quarter. Isthmus Partners LLC’s holdings in Northern Oil and Gas were worth $1,698,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. raised its position in Northern Oil and Gas by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after buying an additional 552,645 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Northern Oil and Gas by 45.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after purchasing an additional 789,985 shares during the last quarter. Copeland Capital Management LLC increased its position in shares of Northern Oil and Gas by 0.6% during the 3rd quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock worth $74,245,000 after purchasing an additional 12,079 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Northern Oil and Gas by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,220,044 shares of the company’s stock worth $45,349,000 after purchasing an additional 49,632 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Northern Oil and Gas by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock worth $34,902,000 after purchasing an additional 103,314 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

NOG opened at $43.46 on Friday. The business has a fifty day simple moving average of $38.86 and a 200 day simple moving average of $38.65. The company has a market capitalization of $4.34 billion, a PE ratio of 5.22 and a beta of 1.80. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $44.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last released its quarterly 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 business 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%. The firm’s quarterly revenue was up 140.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. Research analysts expect that Northern Oil and Gas, Inc. will post 5.4 EPS for the current year.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a $0.42 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 3.87%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

Insider Activity

In other news, CFO Chad W. Allen sold 1,500 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief financial officer now directly owns 83,792 shares in the company, valued at approximately $3,351,680. This represents a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the sale, the president now owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. The trade was a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,508 shares of company stock worth $248,113. 2.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NOG has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target on the stock. Piper Sandler boosted their price target on Northern Oil and Gas from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. Truist Financial boosted their price target on Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley lowered their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, Mizuho began coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They set an “outperform” rating and a $47.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

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.