Northern Oil and Gas, Inc. (NYSE:NOG) Shares Bought by EntryPoint Capital LLC

EntryPoint Capital LLC lifted its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 43.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,296 shares of the company’s stock after purchasing an additional 3,398 shares during the period. EntryPoint Capital LLC’s holdings in Northern Oil and Gas were worth $420,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NOG. Vanguard Group Inc. lifted its stake in shares of Northern Oil and Gas by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company’s stock worth $418,916,000 after purchasing an additional 166,501 shares in the last quarter. American Century Companies Inc. lifted its holdings in Northern Oil and Gas by 3.9% in the 4th quarter. American Century Companies Inc. now owns 6,537,596 shares of the company’s stock worth $242,937,000 after buying an additional 243,531 shares in the last quarter. Geode Capital Management LLC boosted its position in Northern Oil and Gas by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock valued at $80,884,000 after buying an additional 100,761 shares during the last quarter. Copeland Capital Management LLC grew its stake in shares of Northern Oil and Gas by 0.9% during the fourth quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company’s stock valued at $78,590,000 after acquiring an additional 18,195 shares in the last quarter. Finally, Channing Capital Management LLC lifted its stake in shares of Northern Oil and Gas by 26.8% in the fourth quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company’s stock worth $65,648,000 after acquiring an additional 373,917 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Performance

NOG opened at $30.70 on Wednesday. The business has a 50 day moving average price of $33.92 and a two-hundred day moving average price of $36.93. 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 company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 5.97 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.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data 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 return on equity of 24.41% and a net margin of 23.38%. The firm had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. Research analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

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

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.86%. This is an increase 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 dividend payout ratio is presently 35.02%.

Insider Activity

In related news, CEO Nicholas L. O’grady purchased 1,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were bought at an average price of $27.48 per share, with a total value of $27,480.00. Following the completion of the acquisition, the chief executive officer now owns 226,189 shares of the company’s stock, valued at approximately $6,215,673.72. This 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 through the SEC website. Also, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup lowered their price objective on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Truist Financial upped their target price 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. Capital One Financial cut Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Morgan Stanley set a $43.00 price objective on Northern Oil and Gas in a research report on Wednesday, January 22nd. Finally, Piper Sandler lowered their target price on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas currently has a consensus rating of “Hold” and an average target price of $46.89.

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.