Systematic Financial Management LP Makes New Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

Systematic Financial Management LP acquired a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,239 shares of the company’s stock, valued at approximately $681,000.

Other institutional investors have also modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Northern Oil and Gas by 1.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock valued at $849,000 after buying an additional 320 shares in the last quarter. Easterly Investment Partners LLC raised its position in shares of Northern Oil and Gas by 0.8% during the 3rd quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock worth $1,792,000 after acquiring an additional 380 shares in the last quarter. Signaturefd LLC lifted its stake in Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after purchasing an additional 427 shares during the last quarter. CWM LLC boosted its holdings in Northern Oil and Gas by 24.8% in the third quarter. CWM LLC now owns 2,237 shares of the company’s stock valued at $79,000 after purchasing an additional 444 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after purchasing an additional 528 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Trading Down 3.1 %

Shares of NOG stock opened at $40.23 on Friday. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $44.31. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average is $39.58 and its two-hundred day moving average is $38.74. The company has a market capitalization of $4.02 billion, a P/E ratio of 4.83 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The firm had revenue of $753.64 million for 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%. Northern Oil and Gas’s quarterly revenue was up 140.0% on a year-over-year basis. During the same period last year, the firm posted $1.73 EPS. Equities analysts forecast 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 issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 4.18%. Northern Oil and Gas’s dividend payout ratio is currently 20.17%.

Insider Activity at Northern Oil and Gas

In other news, insider Erik J. Romslo sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the sale, the insider now directly owns 105,713 shares of the company’s stock, valued at $3,727,440.38. This trade represents a 1.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now directly owns 107,876 shares in the company, valued at $4,153,226. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,508 shares of company stock worth $248,113 over the last 90 days. Company insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

NOG has been the subject of several recent analyst reports. Royal Bank of Canada downgraded shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $43.00 to $45.00 in a research report on Wednesday, November 20th. Piper Sandler upped their price objective on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Morgan Stanley dropped their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price for the company. Finally, Truist Financial raised their price target on Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

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.