Heritage Family Offices LLP Buys Shares of 6,561 Northern Oil and Gas, Inc. (NYSE:NOG)

Heritage Family Offices LLP purchased a new position in Northern Oil and Gas, Inc. (NYSE:NOG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,561 shares of the company’s stock, valued at approximately $244,000.

A number of other hedge funds have also recently made changes to their positions in NOG. Harbor Capital Advisors Inc. raised its holdings in Northern Oil and Gas by 1.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 141,100 shares of the company’s stock worth $5,243,000 after purchasing an additional 2,636 shares in the last quarter. Range Financial Group LLC purchased a new stake in Northern Oil and Gas during the fourth quarter valued at approximately $332,000. Insight Wealth Strategies LLC boosted its stake in Northern Oil and Gas by 2.7% in the fourth quarter. Insight Wealth Strategies LLC now owns 28,550 shares of the company’s stock valued at $1,061,000 after acquiring an additional 751 shares in the last quarter. Doliver Advisors LP increased its position in shares of Northern Oil and Gas by 2.9% during the fourth quarter. Doliver Advisors LP now owns 28,667 shares of the company’s stock worth $1,065,000 after purchasing an additional 800 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Northern Oil and Gas by 21.0% during the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock worth $79,000 after buying an additional 368 shares during the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $41.77 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market cap of $4.17 billion, a PE ratio of 5.01 and a beta of 1.85. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $44.31. The firm has a fifty day moving average of $39.99 and a 200 day moving average of $38.75.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. During the same quarter in the prior year, the firm earned $1.73 EPS. The company’s revenue for the quarter was up 140.0% on a year-over-year basis. As a group, research analysts predict that Northern Oil and Gas, Inc. will post 5.39 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 dividend yield of 4.02%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio is presently 20.17%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NOG shares. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 target price on shares of Northern Oil and Gas in a research report on Friday, January 10th. Jefferies Financial Group began coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target on the stock. Piper Sandler reduced their target price on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research report on Monday, December 16th. Finally, Truist Financial boosted their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Northern Oil and Gas has an average rating of “Moderate Buy” and an average price target of $47.50.

Insider Buying and Selling

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the sale, the president now owns 96,223 shares of the company’s stock, valued at $3,752,697. The trade was a 0.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 1,836 shares of company stock worth $72,869. 2.80% of the stock is owned by corporate 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.