Heritage Wealth Management LLC Takes $248,000 Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Heritage Wealth Management LLC acquired a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,700 shares of the company’s stock, valued at approximately $248,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOG. Vanguard Group Inc. boosted its holdings in Northern Oil and Gas by 26.7% in the 3rd quarter. Vanguard Group Inc. now owns 7,759,894 shares of the company’s stock worth $312,181,000 after acquiring an additional 1,635,739 shares during the period. Invesco Ltd. boosted its stake in Northern Oil and Gas by 19.0% during the third quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock valued at $152,318,000 after buying an additional 605,197 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Northern Oil and Gas by 27.0% during the third quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock valued at $103,085,000 after purchasing an additional 545,297 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Northern Oil and Gas by 13.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,445,517 shares of the company’s stock worth $58,153,000 after acquiring an additional 175,000 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in Northern Oil and Gas by 7.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,406,271 shares of the company’s stock worth $56,574,000 after acquiring an additional 98,613 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock traded up $0.02 on Friday, hitting $39.99. The stock had a trading volume of 479,093 shares, compared to its average volume of 1,282,373. Northern Oil and Gas, Inc. has a twelve month low of $29.57 and a twelve month high of $43.75. The business’s 50 day moving average is $39.49 and its two-hundred day moving average is $37.36. The company has a quick ratio of 1.32, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 6.50 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. The business had revenue of $396.35 million for the quarter, compared to the consensus estimate of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The firm’s quarterly revenue was down 31.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 earnings per share. Analysts forecast that Northern Oil and Gas, Inc. will post 5.53 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.00%. The ex-dividend date was Wednesday, March 27th. Northern Oil and Gas’s payout ratio is presently 25.93%.

Insiders Place Their Bets

In other news, insider James B. Evans sold 3,150 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the completion of the transaction, the insider now directly owns 73,753 shares in the company, valued at approximately $3,097,626. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider James B. Evans sold 3,150 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the completion of the transaction, the insider now directly owns 73,753 shares in the company, valued at approximately $3,097,626. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total value of $153,675.00. Following the transaction, the chief executive officer now directly owns 228,082 shares of the company’s stock, valued at $9,346,800.36. The disclosure for this sale can be found here. Insiders sold 10,944 shares of company stock worth $436,614 over the last three months. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NOG. Stifel Nicolaus raised their target price on Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Piper Sandler lifted their price objective on Northern Oil and Gas from $38.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. StockNews.com raised Northern Oil and Gas from a “sell” rating to a “hold” rating in a research note on Thursday. Truist Financial lifted their target price on Northern Oil and Gas from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Citigroup decreased their price objective on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.40.

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.