Navellier & Associates Inc. Takes $214,000 Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Navellier & Associates Inc. acquired a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 5,758 shares of the company’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. SNS Financial Group LLC purchased a new stake in shares of Northern Oil and Gas during the 4th quarter valued at $203,000. Convergence Investment Partners LLC purchased a new position in Northern Oil and Gas in the 4th quarter worth $1,268,000. New York State Common Retirement Fund raised its stake in Northern Oil and Gas by 13.9% in the 4th quarter. New York State Common Retirement Fund now owns 1,071,966 shares of the company’s stock worth $39,834,000 after acquiring an additional 130,979 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Northern Oil and Gas in the 4th quarter worth $104,000. Finally, Principal Financial Group Inc. raised its stake in Northern Oil and Gas by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 481,797 shares of the company’s stock worth $17,904,000 after acquiring an additional 11,690 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

NYSE NOG opened at $33.01 on Monday. Northern Oil and Gas, Inc. has a fifty-two week low of $32.81 and a fifty-two week high of $44.31. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The firm has a market capitalization of $3.29 billion, a P/E ratio of 6.42 and a beta of 1.81. The stock has a 50-day simple moving average of $37.47 and a two-hundred day simple moving average of $38.29.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Wednesday, February 19th. The company reported $1.11 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 business had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. On average, equities 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.45%. This is a boost 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 payout ratio is presently 32.68%.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the sale, the president now directly owns 96,223 shares in the company, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NOG has been the subject of a number of research analyst reports. Mizuho lowered 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 raised their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the stock 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. Capital One Financial lowered Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday. Finally, Royal Bank of Canada reduced their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.44.

Northern Oil and Gas Company 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.