Trust Point Inc. Has $580,000 Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Trust Point Inc. lessened its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 46.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,597 shares of the company’s stock after selling 13,695 shares during the quarter. Trust Point Inc.’s holdings in Northern Oil and Gas were worth $580,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Icon Wealth Advisors LLC acquired a new position in shares of Northern Oil and Gas during the 3rd quarter worth approximately $828,000. Heritage Family Offices LLP acquired a new position in shares of Northern Oil and Gas in the fourth quarter valued at $244,000. Tributary Capital Management LLC raised its position in shares of Northern Oil and Gas by 11.8% in the fourth quarter. Tributary Capital Management LLC now owns 588,487 shares of the company’s stock valued at $21,868,000 after purchasing an additional 62,300 shares during the period. Wesbanco Bank Inc. acquired a new stake in shares of Northern Oil and Gas during the 3rd quarter worth about $1,080,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Northern Oil and Gas by 21.0% during the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock worth $79,000 after buying an additional 368 shares during the period. Institutional investors own 98.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NOG. Royal Bank of Canada restated a “sector perform” rating and set a $45.00 price objective on shares of Northern Oil and Gas in a research report on Friday, January 10th. 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 report on Monday, January 13th. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a report on Monday, December 16th. Finally, Piper Sandler decreased their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Hold” and an average target price of $47.56.

Northern Oil and Gas Trading Up 2.9 %

NOG opened at $36.87 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $44.31. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 4.43 and a beta of 1.82. The company has a 50-day simple moving average of $39.33 and a 200 day simple moving average of $38.70.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. During the same quarter last year, the business posted $1.73 EPS. The firm’s revenue for the quarter was up 140.0% on a year-over-year basis. Analysts predict that Northern Oil and Gas, Inc. will post 5.3 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid a $0.45 dividend. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 4.88%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 21.61%.

Insider Transactions at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the company’s 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 completion of the transaction, the president now directly owns 96,223 shares in the company, valued at $3,752,697. This represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is 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.