Mitsubishi UFJ Trust & Banking Corp Acquires 876 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Mitsubishi UFJ Trust & Banking Corp grew its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 3.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 23,232 shares of the company’s stock after acquiring an additional 876 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Northern Oil and Gas were worth $863,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Legacy Investment Solutions LLC bought a new stake in Northern Oil and Gas during the 3rd quarter worth about $25,000. Blue Trust Inc. lifted its position in shares of Northern Oil and Gas by 177.2% during the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after purchasing an additional 801 shares in the last quarter. Avior Wealth Management LLC grew its stake in shares of 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 valued at $51,000 after purchasing an additional 259 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Northern Oil and Gas in the fourth quarter valued at approximately $66,000. Finally, Quarry LP raised its position in Northern Oil and Gas by 74.4% in the 3rd quarter. Quarry LP now owns 1,974 shares of the company’s stock worth $70,000 after purchasing an additional 842 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on NOG. Capital One Financial lowered Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. Royal Bank of Canada dropped their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Morgan Stanley reduced their target price on shares of Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Piper Sandler dropped their price target on shares of 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. Finally, Citigroup reduced 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.44.

Northern Oil and Gas Trading Down 1.3 %

Shares of NYSE NOG opened at $29.82 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a twelve month low of $26.60 and a twelve month high of $44.31. The company’s fifty day moving average is $32.79 and its 200-day moving average is $36.79. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 5.80 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG) last posted 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 during the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. Equities research analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS 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. 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 annualized dividend and a yield of 6.04%. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio (DPR) is 35.02%.

Northern Oil and Gas announced that its board has approved a stock buyback plan on Tuesday, March 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bahram Akradi bought 40,000 shares of Northern Oil and Gas stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the purchase, the director now owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. This trade represents a 2.47 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.80% of the company’s stock.

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.