Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Epiq Partners LLC

Epiq Partners LLC lowered its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,790 shares of the company’s stock after selling 12,537 shares during the period. Northern Oil and Gas accounts for 1.4% of Epiq Partners LLC’s investment portfolio, making the stock its 22nd largest position. Epiq Partners LLC’s holdings in Northern Oil and Gas were worth $2,631,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Northern Oil and Gas during the 3rd quarter valued at approximately $25,000. Signaturefd LLC raised its position in Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares during the period. Quarry LP raised its position in Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after purchasing an additional 874 shares during the period. Blue Trust Inc. lifted its stake 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 valued at $44,000 after purchasing an additional 801 shares during the last quarter. Finally, Avior Wealth Management LLC grew its holdings in shares of Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after purchasing an additional 259 shares during the period. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Price Performance

NOG stock opened at $37.19 on Tuesday. The business’s 50-day moving average is $39.96 and its two-hundred day moving average is $38.86. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $3.71 billion, a P/E ratio of 4.47 and a beta of 1.85. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $44.31.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The firm’s quarterly revenue was up 140.0% on a year-over-year basis. Analysts anticipate that Northern Oil and Gas, Inc. will post 5.34 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.52%. Northern Oil and Gas’s payout ratio is currently 20.17%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 target price on shares of Northern Oil and Gas in a research report on Friday, January 10th. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective for the company. Truist Financial boosted their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Mizuho lowered Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a research report on Monday, December 16th. Finally, Piper Sandler decreased their target price on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Hold” and an average price target of $47.78.

Insider Activity at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of the 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 transaction, the president now owns 96,223 shares in the company, valued at approximately $3,752,697. This represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 1,836 shares of company stock valued at $72,869 over the last quarter. 2.80% of the stock is owned by insiders.

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.