Swiss National Bank Has $6.95 Million Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Swiss National Bank boosted its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 187,100 shares of the company’s stock after acquiring an additional 9,500 shares during the quarter. Swiss National Bank’s holdings in Northern Oil and Gas were worth $6,953,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOG. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Northern Oil and Gas in the 4th quarter valued at $1,676,000. Avantax Advisory Services Inc. grew its position in Northern Oil and Gas by 2.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company’s stock valued at $487,000 after acquiring an additional 298 shares during the last quarter. Channing Capital Management LLC raised its stake in Northern Oil and Gas by 26.8% during the fourth quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company’s stock worth $65,648,000 after acquiring an additional 373,917 shares in the last quarter. Isthmus Partners LLC lifted its holdings in shares of Northern Oil and Gas by 0.9% in the fourth quarter. Isthmus Partners LLC now owns 48,354 shares of the company’s stock worth $1,797,000 after acquiring an additional 411 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in shares of Northern Oil and Gas in the 4th quarter valued at approximately $1,215,000. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock opened at $30.02 on Friday. The stock’s 50 day moving average is $34.33 and its 200 day moving average is $36.99. Northern Oil and Gas, Inc. has a one year low of $26.60 and a one year high of $44.31. The firm has a market cap of $2.98 billion, a P/E ratio of 5.84 and a beta of 1.84. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly 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). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The firm had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. As a group, research analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.45 per share. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 35.02%.

Northern Oil and Gas declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NOG shares. Morgan Stanley set a $43.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, January 22nd. Truist Financial increased their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Citigroup reduced their price objective on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Royal Bank of Canada cut their price target on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Finally, Piper Sandler lowered their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.89.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the sale, the president now directly owns 96,223 shares in the company, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas L. O’grady purchased 1,000 shares of the company’s 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 completion of the purchase, the chief executive officer now owns 226,189 shares of the company’s stock, valued at approximately $6,215,673.72. This trade represents a 0.44 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.80% of the company’s stock.

Northern Oil and Gas 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.