Natixis Advisors LLC Sells 15,176 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Natixis Advisors LLC lowered its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 16.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,539 shares of the company’s stock after selling 15,176 shares during the quarter. Natixis Advisors LLC owned 0.08% of Northern Oil and Gas worth $2,807,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in Northern Oil and Gas in the third quarter valued at about $25,000. Blue Trust Inc. increased its stake in Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after acquiring an additional 801 shares during the period. Avior Wealth Management LLC increased its stake in Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after acquiring an additional 259 shares during the period. SBI Securities Co. Ltd. bought a new stake in Northern Oil and Gas in the fourth quarter valued at about $66,000. Finally, Quarry LP increased its stake in Northern Oil and Gas by 74.4% in the third quarter. Quarry LP now owns 1,974 shares of the company’s stock valued at $70,000 after acquiring an additional 842 shares during the period. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NOG stock opened at $30.02 on Monday. Northern Oil and Gas, Inc. has a 1 year low of $26.60 and a 1 year high of $44.31. The firm’s 50 day moving average is $34.33 and its 200-day moving average is $36.99. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 5.84 and a beta of 1.84. 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 (NYSE:NOG) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The business had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. Sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.18 EPS 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 $0.45 dividend. 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 yield of 6.00%. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio is currently 35.02%.

Northern Oil and Gas announced that its board has authorized a stock buyback program on Tuesday, March 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

NOG has been the topic of a number of analyst reports. Truist Financial upped 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 note on Monday, January 13th. Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research note on Monday, December 16th. Piper Sandler decreased their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley set a $43.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, January 22nd. Finally, Capital One Financial cut shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Hold” and a consensus target price of $46.89.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, CEO Nicholas L. O’grady acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the acquisition, the chief executive officer now directly owns 226,189 shares of the company’s stock, valued at approximately $6,215,673.72. This represents a 0.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bahram Akradi acquired 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the completion of the acquisition, the director now directly owns 1,662,016 shares of the company’s stock, valued at $46,586,308.48. This trade represents a 2.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by company insiders.

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.