Atria Investments Inc Has $844,000 Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Atria Investments Inc grew its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,720 shares of the company’s stock after purchasing an additional 1,176 shares during the period. Atria Investments Inc’s holdings in Northern Oil and Gas were worth $844,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new position in shares of Northern Oil and Gas during the 3rd quarter worth approximately $25,000. Blue Trust Inc. increased its position in shares of 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 purchasing an additional 801 shares during the last quarter. Avior Wealth Management LLC increased its holdings in Northern Oil and Gas by 23.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after buying an additional 259 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Northern Oil and Gas during the fourth quarter worth $66,000. Finally, Covestor Ltd increased its holdings in Northern Oil and Gas by 122.6% during the third quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after buying an additional 1,048 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NOG. Citigroup lowered their price objective on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Truist Financial lifted their price objective on shares of 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. Capital One Financial downgraded shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Royal Bank of Canada cut their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Finally, Mizuho lowered 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 research note on Monday, December 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Northern Oil and Gas presently has a consensus rating of “Hold” and an average target price of $46.89.

Northern Oil and Gas Trading Down 1.6 %

NOG stock opened at $28.33 on Friday. The company’s 50-day simple moving average is $35.41 and its 200 day simple moving average is $37.41. Northern Oil and Gas, Inc. has a 52 week low of $26.59 and a 52 week high of $44.31. The company has a market capitalization of $2.81 billion, a PE ratio of 5.51 and a beta of 1.84. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share 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 dividend of $0.45 per share. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 6.35%. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio is 35.02%.

Northern Oil and Gas announced that its board has authorized a stock repurchase plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the stock in a transaction that occurred on 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 owns 96,223 shares in the company, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas L. O’grady bought 1,000 shares of Northern Oil and Gas stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the acquisition, the chief executive officer now owns 226,189 shares in the company, valued at approximately $6,215,673.72. This represents a 0.44 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by insiders.

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.