Northern Oil and Gas, Inc. (NYSE:NOG) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,063 shares of the company’s stock after acquiring an additional 816 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Northern Oil and Gas were worth $410,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in shares of Northern Oil and Gas during the 4th quarter worth approximately $42,000. SRS Capital Advisors Inc. increased its position in Northern Oil and Gas by 305.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after buying an additional 927 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Northern Oil and Gas in the third quarter valued at $67,000. Covestor Ltd boosted its holdings in shares of Northern Oil and Gas by 44,860.0% during the third quarter. Covestor Ltd now owns 2,248 shares of the company’s stock valued at $90,000 after acquiring an additional 2,243 shares during the period. Finally, Hanseatic Management Services Inc. bought a new position in shares of Northern Oil and Gas during the third quarter worth about $159,000. Institutional investors own 98.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on NOG shares. Piper Sandler boosted their target price on shares of Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Jefferies Financial Group increased their price objective on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Truist Financial boosted their price target on Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Morgan Stanley raised their price target on 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. Finally, StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Northern Oil and Gas has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $39.94 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.96. The firm’s 50 day moving average is $40.73 and its 200-day moving average is $37.46. Northern Oil and Gas, Inc. has a 12-month low of $29.57 and a 12-month high of $43.75. The stock has a market capitalization of $4.04 billion, a P/E ratio of 6.47 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.10. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The firm had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. During the same quarter in the previous year, the business posted $1.76 earnings per share. The firm’s quarterly revenue was down 31.9% compared to the same quarter last year. Equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.14 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Thursday, June 27th will be given a $0.40 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.01%. Northern Oil and Gas’s dividend payout ratio (DPR) is 25.93%.

Insider Buying and Selling

In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the sale, the insider now directly owns 83,872 shares of the company’s stock, valued at $3,187,136. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider James B. Evans sold 945 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $35,910.00. Following the sale, the insider now owns 83,872 shares in the company, valued at $3,187,136. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Adam A. Dirlam sold 2,088 shares of the firm’s stock in a transaction that occurred on 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 transaction, the president now directly owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,933 shares of company stock valued at $401,229. 2.80% of the stock is owned by corporate insiders.

About Northern Oil and Gas

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.