Sciencast Management LP Invests $851,000 in Northern Oil and Gas, Inc. (NYSE:NOG)

Sciencast Management LP purchased a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 22,899 shares of the company’s stock, valued at approximately $851,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NOG. Legacy Investment Solutions LLC acquired a new position in shares of Northern Oil and Gas during the 3rd quarter worth $25,000. Blue Trust Inc. boosted its position in shares of Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after buying an additional 801 shares in the last quarter. Avior Wealth Management LLC boosted its position in shares of Northern Oil and Gas by 23.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after buying an additional 259 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Northern Oil and Gas in the 4th quarter worth about $66,000. Finally, Quarry LP boosted its position in shares of Northern Oil and Gas by 74.4% in the 3rd quarter. Quarry LP now owns 1,974 shares of the company’s stock worth $70,000 after buying an additional 842 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Down 2.5 %

Shares of NOG stock opened at $30.02 on Friday. The firm has a market cap of $2.98 billion, a P/E ratio of 5.84 and a beta of 1.84. Northern Oil and Gas, Inc. has a 1-year low of $26.60 and a 1-year high of $44.31. 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’s 50-day simple moving average is $34.33 and its 200-day simple moving average is $36.99.

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

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

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 issued a dividend of $0.45 per share. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 6.00%. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio is presently 35.02%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities research analysts recently commented on NOG shares. Royal Bank of Canada decreased their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research report on Monday, December 16th. Truist Financial boosted their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Piper Sandler reduced their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Finally, Morgan Stanley set a $43.00 target price on shares of Northern Oil and Gas in a report on Wednesday, January 22nd. One research 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. According to data from MarketBeat.com, Northern Oil and Gas has a consensus rating of “Hold” and an average price target of $46.89.

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.