NewSquare Capital LLC Takes Position in Northern Oil and Gas, Inc. (NYSE:NOG)

NewSquare Capital LLC bought a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) during the 4th quarter, Holdings Channel reports. The institutional investor bought 16,280 shares of the company’s stock, valued at approximately $604,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale purchased a new position in shares of Northern Oil and Gas in the 3rd quarter valued at about $67,000. Covestor Ltd increased its stake in Northern Oil and Gas by 44,860.0% in the third quarter. Covestor Ltd now owns 2,248 shares of the company’s stock valued at $90,000 after purchasing an additional 2,243 shares during the last quarter. Assetmark Inc. raised its holdings in Northern Oil and Gas by 14.2% during the third quarter. Assetmark Inc. now owns 3,061 shares of the company’s stock worth $123,000 after purchasing an additional 380 shares in the last quarter. Hanseatic Management Services Inc. purchased a new stake in shares of Northern Oil and Gas during the 3rd quarter worth approximately $159,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Northern Oil and Gas in the 3rd quarter valued at $209,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on NOG. Piper Sandler lifted their price target on shares of Northern Oil and Gas from $38.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Truist Financial lowered their target price on shares of Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Raymond James cut their target price on shares of Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Morgan Stanley increased their price target on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, Stifel Nicolaus lifted their price objective on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.30.

Northern Oil and Gas Stock Performance

NYSE NOG traded down $0.37 during trading hours on Wednesday, hitting $42.74. 545,804 shares of the stock were exchanged, compared to its average volume of 1,267,368. Northern Oil and Gas, Inc. has a 12-month low of $29.57 and a 12-month high of $43.64. The stock has a 50-day moving average of $38.40 and a 200 day moving average of $37.23. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 4.26 and a beta of 1.86. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.90.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The business had revenue of $543.40 million for the quarter, compared to analysts’ expectations of $555.31 million. During the same period last year, the company posted $1.43 earnings per share. The business’s quarterly revenue was up 21.9% on a year-over-year basis. As a group, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.47 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.74%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 15.94%.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $35,910.00. Following the transaction, the insider now directly owns 83,872 shares in the company, valued at $3,187,136. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $79,344.00. Following the completion of the transaction, the president now owns 122,359 shares in the company, valued at $4,649,642. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James B. Evans sold 945 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the sale, the insider now owns 83,872 shares in the company, valued at $3,187,136. The disclosure for this sale can be found here. Insiders sold 10,944 shares of company stock worth $436,614 over the last 90 days. Company insiders own 2.80% of the company’s stock.

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.