Virtu Financial LLC Takes Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Virtu Financial LLC purchased a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the fourth quarter, HoldingsChannel reports. The fund purchased 16,176 shares of the company’s stock, valued at approximately $601,000.

A number of other large investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in Northern Oil and Gas during the 3rd quarter worth approximately $25,000. Blue Trust Inc. lifted its position in Northern Oil and Gas by 177.2% during the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after purchasing an additional 801 shares during the period. Avior Wealth Management LLC boosted its holdings in Northern Oil and Gas by 23.3% in 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 Northern Oil and Gas during the 4th quarter worth about $66,000. Finally, Quarry LP raised its stake in shares of Northern Oil and Gas by 74.4% during the 3rd quarter. Quarry LP now owns 1,974 shares of the company’s stock valued at $70,000 after buying an additional 842 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

NYSE NOG opened at $30.70 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The stock’s 50 day simple moving average is $33.92 and its 200-day simple moving average is $36.93. The company has a market cap of $3.04 billion, a PE ratio of 5.97 and a beta of 1.84. Northern Oil and Gas, Inc. has a 1-year low of $26.60 and a 1-year high of $44.31.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The firm had revenue of $545.47 million during the quarter, compared to analysts’ expectations of $552.34 million. As a group, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS 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. Stockholders of record on Friday, March 28th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.86%. Northern Oil and Gas’s dividend payout ratio is 35.02%.

Northern Oil and Gas declared that its board has authorized a stock repurchase plan on Tuesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NOG shares. Piper Sandler reduced their price target on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Truist Financial lifted their target price on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. Capital One Financial downgraded shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a report on Monday, December 16th. Finally, Morgan Stanley set a $43.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.89.

Insider Activity at Northern Oil and Gas

In related news, CEO Nicholas L. O’grady acquired 1,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $27.48 per share, with a total value of $27,480.00. Following the transaction, the chief executive officer now owns 226,189 shares of the company’s stock, valued at approximately $6,215,673.72. This trade represents a 0.44 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Adam A. Dirlam sold 836 shares of the business’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 value of $32,604.00. Following the completion of the sale, the president now directly owns 96,223 shares in the company, 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. 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.