Victory Capital Management Inc. Sells 38,777 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Victory Capital Management Inc. lowered its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 4.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 802,131 shares of the company’s stock after selling 38,777 shares during the quarter. Victory Capital Management Inc.’s holdings in Northern Oil and Gas were worth $29,807,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in Northern Oil and Gas in the 3rd quarter worth approximately $25,000. Blue Trust Inc. grew its position in Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after purchasing an additional 801 shares during the period. Avior Wealth Management LLC grew its position in Northern Oil and Gas by 23.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after purchasing an additional 259 shares during the period. SBI Securities Co. Ltd. bought a new stake in Northern Oil and Gas in the 4th quarter worth approximately $66,000. Finally, Covestor Ltd grew its position in Northern Oil and Gas by 122.6% in the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after purchasing an additional 1,048 shares during the period. Institutional investors own 98.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Piper Sandler cut their target price on shares of 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. Royal Bank of Canada cut their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Morgan Stanley set a $43.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, January 22nd. Mizuho downgraded 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 research report on Monday, December 16th. Finally, Capital One Financial downgraded shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.89.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction 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 sale, the president now owns 96,223 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Bahram Akradi purchased 40,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the purchase, the director now owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. This represents a 2.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is owned by corporate insiders.

Northern Oil and Gas Stock Up 2.4 %

NOG opened at $27.53 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. Northern Oil and Gas, Inc. has a fifty-two week low of $26.59 and a fifty-two week high of $44.31. The firm’s fifty day moving average is $36.12 and its 200 day moving average is $37.69. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 5.36 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $552.34 million. On average, sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be paid a dividend of $0.45 per share. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.54%. Northern Oil and Gas’s payout ratio is 35.02%.

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.