Northern Oil and Gas, Inc. (NYSE:NOG) Shares Bought by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC increased its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 306,490 shares of the company’s stock after buying an additional 3,900 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in Northern Oil and Gas were worth $10,853,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. American Century Companies Inc. raised its position in Northern Oil and Gas by 11.0% in the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after acquiring an additional 552,645 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Northern Oil and Gas by 45.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock valued at $93,744,000 after buying an additional 789,985 shares in the last quarter. Copeland Capital Management LLC boosted its position in Northern Oil and Gas by 0.6% during the third quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock worth $74,245,000 after purchasing an additional 12,079 shares during the period. Bank of New York Mellon Corp boosted its position in Northern Oil and Gas by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 1,220,044 shares of the company’s stock worth $45,349,000 after purchasing an additional 49,632 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Northern Oil and Gas by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock worth $34,902,000 after purchasing an additional 103,314 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $43.49 on Wednesday. The firm has a market cap of $4.34 billion, a PE ratio of 5.22 and a beta of 1.85. The firm’s fifty day moving average is $39.23 and its 200-day moving average is $38.70. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $540.23 million. During the same quarter last year, the firm earned $1.73 earnings per share. Northern Oil and Gas’s quarterly revenue was up 140.0% on a year-over-year basis. Sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s payout ratio is 20.17%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada cut Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $43.00 to $45.00 in a research report on Wednesday, November 20th. Jefferies Financial Group began coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective on the stock. Piper Sandler increased their price objective on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, November 18th. Morgan Stanley lowered their price target on 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. Finally, Truist Financial upped 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Insider Buying and Selling at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Chad W. Allen sold 1,500 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at $3,351,680. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,508 shares of company stock worth $248,113 over the last three months. 2.80% of the stock is currently 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.