Isthmus Partners LLC Acquires 411 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Isthmus Partners LLC grew its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 0.9% in the fourth quarter, HoldingsChannel reports. The fund owned 48,354 shares of the company’s stock after purchasing an additional 411 shares during the quarter. Isthmus Partners LLC’s holdings in Northern Oil and Gas were worth $1,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of NOG. Icon Wealth Advisors LLC purchased a new position in Northern Oil and Gas during the third quarter valued at $828,000. Principal Financial Group Inc. lifted its position in shares of Northern Oil and Gas by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 481,797 shares of the company’s stock valued at $17,904,000 after buying an additional 11,690 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Northern Oil and Gas by 36.1% during the 4th quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company’s stock valued at $2,877,000 after acquiring an additional 20,550 shares during the period. James Investment Research Inc. purchased a new stake in Northern Oil and Gas in the 4th quarter worth approximately $393,000. Finally, Heritage Family Offices LLP bought a new stake in Northern Oil and Gas during the 4th quarter worth approximately $244,000. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Trading Up 2.4 %

Shares of NOG opened at $27.53 on Monday. Northern Oil and Gas, Inc. has a fifty-two week low of $26.59 and a fifty-two week high of $44.31. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The company’s fifty day moving average is $36.12 and its 200 day moving average is $37.69. The stock has a market capitalization of $2.73 billion, a PE ratio of 5.36 and a beta of 1.84.

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 the consensus estimate of $1.27 by ($0.16). The business had revenue of $545.47 million for the quarter, compared to analysts’ expectations of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. Sell-side analysts expect 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 business also recently declared 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 6.54%. The ex-dividend date is Friday, March 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio is presently 35.02%.

Insider Buying and Selling

In other news, Director Bahram Akradi purchased 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the acquisition, the director now owns 1,662,016 shares of the company’s stock, valued at approximately $46,586,308.48. This trade represents a 2.47 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was 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. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NOG shares. Citigroup dropped their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Truist Financial upped their price objective on 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. Capital One Financial cut Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Piper Sandler cut their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.