Northern Oil and Gas, Inc. (NYSE:NOG) Shares Acquired by Bridgewater Associates LP

Bridgewater Associates LP boosted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 135.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 511,170 shares of the company’s stock after purchasing an additional 294,223 shares during the quarter. Bridgewater Associates LP’s holdings in Northern Oil and Gas were worth $18,101,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NOG. Garner Asset Management Corp acquired a new stake in shares of Northern Oil and Gas during the third quarter valued at about $251,000. Great Valley Advisor Group Inc. raised its position in shares of Northern Oil and Gas by 14.0% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 19,240 shares of the company’s stock valued at $681,000 after purchasing an additional 2,370 shares in the last quarter. Icon Wealth Advisors LLC acquired a new stake in shares of Northern Oil and Gas during the third quarter worth approximately $828,000. Eagle Asset Management Inc. increased its stake in shares of Northern Oil and Gas by 24.8% in the third quarter. Eagle Asset Management Inc. now owns 134,122 shares of the company’s stock worth $4,749,000 after buying an additional 26,649 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Northern Oil and Gas by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock worth $34,902,000 after acquiring an additional 103,314 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the sale, the president now directly owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This represents a 2.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Chad W. Allen sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now owns 83,792 shares of the company’s stock, valued at approximately $3,351,680. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,508 shares of company stock valued at $248,113 in the last quarter. Insiders own 2.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $43.46 on Thursday. The firm has a 50-day moving average price of $38.73 and a 200 day moving average price of $38.62. The firm has a market capitalization of $4.34 billion, a PE ratio of 5.22 and a beta of 1.80. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $44.31. 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 (NYSE:NOG) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.20 by $0.20. The firm had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The firm’s quarterly revenue was up 140.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.73 earnings per share. On average, sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.42 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, December 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.87%. Northern Oil and Gas’s dividend payout ratio (DPR) is 20.17%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho initiated coverage on Northern Oil and Gas in a research report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 target price for the company. Piper Sandler raised their price objective on Northern Oil and Gas from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Morgan Stanley lowered their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. StockNews.com downgraded shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Truist Financial boosted their price objective on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

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.