Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 11.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,630 shares of the company’s stock after selling 12,749 shares during the period. Federated Hermes Inc. owned 0.10% of Northern Oil and Gas worth $3,730,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Northern Oil and Gas by 26.7% during the third quarter. Vanguard Group Inc. now owns 7,759,894 shares of the company’s stock valued at $312,181,000 after buying an additional 1,635,739 shares during the last quarter. Invesco Ltd. increased its position in Northern Oil and Gas by 19.0% in the 3rd quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock valued at $152,318,000 after acquiring an additional 605,197 shares during the period. American Century Companies Inc. raised its stake in Northern Oil and Gas by 27.0% during the 3rd quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock valued at $103,085,000 after acquiring an additional 545,297 shares in the last quarter. New York State Common Retirement Fund boosted its position in Northern Oil and Gas by 55.9% during the 3rd quarter. New York State Common Retirement Fund now owns 636,082 shares of the company’s stock worth $25,590,000 after acquiring an additional 228,009 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Northern Oil and Gas by 13.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,445,517 shares of the company’s stock worth $58,153,000 after purchasing an additional 175,000 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $43.25 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $4.37 billion, a PE ratio of 4.31 and a beta of 1.86. The stock has a fifty day moving average of $38.96 and a 200-day moving average of $37.33. Northern Oil and Gas, Inc. has a one year low of $29.57 and a one year high of $43.64.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.03). The company had revenue of $543.40 million for the quarter, compared to analysts’ expectations of $555.31 million. Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 earnings per share. As a group, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.53 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 15.94%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their price objective on shares of Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating for the company in a report on Friday, April 5th. Morgan Stanley increased their price objective on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Citigroup dropped their target price on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. Finally, Bank of America downgraded Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price objective on the stock. in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Northern Oil and Gas presently has an average rating of “Moderate Buy” and a consensus target price of $47.30.

Insider Activity

In other news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total value of $132,300.00. Following the transaction, the insider now directly owns 73,753 shares of the company’s stock, valued at $3,097,626. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the completion of the sale, the president now directly owns 122,359 shares in the company, valued at approximately $4,649,642. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total value of $132,300.00. Following the completion of the sale, the insider now directly owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The disclosure for this sale can be found here. Insiders have sold a total of 10,944 shares of company stock worth $436,614 in the last ninety days. Corporate insiders own 2.80% of the company’s stock.

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.