Creative Planning Purchases 4,282 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Creative Planning raised its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 18.1% in the third quarter, Holdings Channel reports. The fund owned 27,994 shares of the company’s stock after buying an additional 4,282 shares during the quarter. Creative Planning’s holdings in Northern Oil and Gas were worth $991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Northern Oil and Gas by 0.4% during the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock valued at $421,857,000 after acquiring an additional 43,940 shares during the period. UniSuper Management Pty Ltd acquired a new position in shares of Northern Oil and Gas during the first quarter valued at about $1,046,000. Motley Fool Asset Management LLC raised its position in shares of Northern Oil and Gas by 29.0% during the first quarter. Motley Fool Asset Management LLC now owns 72,533 shares of the company’s stock valued at $2,878,000 after buying an additional 16,302 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of Northern Oil and Gas by 1.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock valued at $29,747,000 after buying an additional 12,814 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Northern Oil and Gas by 290.5% during the second quarter. Harbor Capital Advisors Inc. now owns 84,213 shares of the company’s stock valued at $3,130,000 after buying an additional 62,649 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Northern Oil and Gas news, CFO Chad W. Allen sold 1,500 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the sale, the chief financial officer now directly owns 83,792 shares in the company, valued at approximately $3,351,680. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total transaction of $96,558.00. Following the sale, the president now directly owns 107,876 shares in the company, valued at $4,153,226. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Chad W. Allen sold 1,500 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now owns 83,792 shares in the company, valued at approximately $3,351,680. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,008 shares of company stock worth $228,013. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NOG stock opened at $35.81 on Friday. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $43.80. The stock has a market cap of $3.59 billion, a PE ratio of 6.34 and a beta of 1.81. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s 50 day moving average price is $37.24 and its two-hundred day moving average price is $38.71.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. The firm had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the firm earned $1.49 earnings per share. As a group, analysts forecast that Northern Oil and Gas, Inc. will post 5.4 EPS for the current year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, September 27th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 4.69%. Northern Oil and Gas’s dividend payout ratio (DPR) is 29.73%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Piper Sandler cut their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Truist Financial dropped their price target on shares of Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target for the company. Finally, Mizuho initiated coverage on shares of Northern Oil and Gas in a research report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.80.

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.