Blue Trust Inc. Buys 801 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Blue Trust Inc. boosted its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 177.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,253 shares of the company’s stock after buying an additional 801 shares during the quarter. Blue Trust Inc.’s holdings in Northern Oil and Gas were worth $44,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in Northern Oil and Gas during the third quarter valued at $25,000. Signaturefd LLC boosted its stake in shares of Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after purchasing an additional 427 shares during the period. Avior Wealth Management LLC boosted its stake in shares of 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 purchasing an additional 259 shares during the period. Covestor Ltd grew its holdings in Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock valued at $67,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Quarry LP raised its position in Northern Oil and Gas by 74.4% in the 3rd quarter. Quarry LP now owns 1,974 shares of the company’s stock worth $70,000 after purchasing an additional 842 shares during the period. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Price Performance

NOG opened at $32.04 on Thursday. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 6.23 and a beta of 1.82. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a 12-month low of $31.78 and a 12-month high of $44.31. The business’s fifty day simple moving average is $37.13 and its 200-day simple moving average is $38.18.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) 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 the consensus estimate of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. On average, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.62%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 35.02%.

Insider Buying and Selling

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the 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 completion of the sale, the president now directly owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NOG has been the subject of several recent analyst reports. Citigroup dropped their target price on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley set a $43.00 price objective on Northern Oil and Gas in a report on Wednesday, January 22nd. Truist Financial upped their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Royal Bank of Canada decreased their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Finally, Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target on the stock. in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.89.

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.