Northern Oil and Gas, Inc. (NYSE:NOG) Shares Purchased by Mesirow Institutional Investment Management Inc.

Mesirow Institutional Investment Management Inc. boosted its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 17.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,716 shares of the company’s stock after purchasing an additional 4,405 shares during the quarter. Mesirow Institutional Investment Management Inc.’s holdings in Northern Oil and Gas were worth $1,104,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NOG. Headlands Technologies LLC purchased a new stake in shares of Northern Oil and Gas during the fourth quarter worth approximately $29,000. Blue Trust Inc. grew its holdings in Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after acquiring an additional 801 shares in the last quarter. Avior Wealth Management LLC grew its holdings in 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 acquiring 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 valued at approximately $66,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Northern Oil and Gas by 297.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company’s stock valued at $77,000 after purchasing an additional 1,570 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on NOG shares. Piper Sandler dropped their target price on 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. Citigroup dropped their price objective on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Truist Financial raised their target price on 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. Bank of America lowered their price target on Northern Oil and Gas from $48.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Finally, Morgan Stanley cut their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.78.

Northern Oil and Gas Stock Up 5.7 %

Shares of NYSE:NOG opened at $24.25 on Monday. Northern Oil and Gas, Inc. has a 1-year low of $19.88 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 stock has a market cap of $2.40 billion, a P/E ratio of 4.72 and a beta of 1.49. The firm has a fifty day moving average price of $28.78 and a 200 day moving average price of $35.45.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results 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 business had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. Sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be issued a $0.45 dividend. The ex-dividend date is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.42%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s payout ratio is presently 35.02%.

Northern Oil and Gas declared that its Board of Directors has authorized a share buyback program on Tuesday, March 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Northern Oil and Gas

In other news, CEO Nicholas L. O’grady purchased 1,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the purchase, the chief executive officer now directly owns 226,189 shares in the company, valued at $6,215,673.72. The trade was a 0.44 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bahram Akradi acquired 40,000 shares of Northern Oil and Gas stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price 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 of the company’s stock, valued at $46,586,308.48. This trade represents a 2.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.