Range Financial Group LLC Purchases New Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Range Financial Group LLC acquired a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 8,927 shares of the company’s stock, valued at approximately $332,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Northern Oil and Gas by 1.5% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,201 shares of the company’s stock worth $822,000 after purchasing an additional 350 shares during the period. GAMMA Investing LLC raised its position in Northern Oil and Gas by 21.0% during the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock worth $79,000 after buying an additional 368 shares during the last quarter. Easterly Investment Partners LLC lifted its stake in shares of Northern Oil and Gas by 0.8% in the 3rd quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock worth $1,792,000 after acquiring an additional 380 shares during the period. Signaturefd LLC boosted its holdings in shares of 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 acquiring an additional 427 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Northern Oil and Gas by 24.8% during the third quarter. CWM LLC now owns 2,237 shares of the company’s stock worth $79,000 after acquiring an additional 444 shares during the period. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the sale, the president now directly owns 96,223 shares of the company’s stock, valued at $3,752,697. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective on the stock. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research note on Monday, December 16th. Piper Sandler reduced their target price on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Truist Financial upped their price target on shares of Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Royal Bank of Canada cut shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $43.00 to $45.00 in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Northern Oil and Gas has a consensus rating of “Moderate Buy” and an average target price of $47.20.

Northern Oil and Gas Stock Up 1.9 %

Shares of NYSE NOG opened at $39.22 on Wednesday. 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’s 50-day moving average is $39.53 and its two-hundred day moving average is $38.64. Northern Oil and Gas, Inc. has a 12-month low of $31.13 and a 12-month high of $44.31. The company has a market capitalization of $3.92 billion, a PE ratio of 4.71 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The firm had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. Northern Oil and Gas’s revenue was up 140.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS. Equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.4 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed 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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s payout ratio is currently 20.17%.

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.