Ninepoint Partners LP Has $16.68 Million Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Ninepoint Partners LP lifted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 12.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 450,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. Northern Oil and Gas comprises approximately 1.8% of Ninepoint Partners LP’s holdings, making the stock its 7th biggest position. Ninepoint Partners LP’s holdings in Northern Oil and Gas were worth $16,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its stake in Northern Oil and Gas by 7.2% during the first quarter. Bank of New York Mellon Corp now owns 434,031 shares of the company’s stock worth $12,236,000 after purchasing an additional 29,141 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Northern Oil and Gas during the first quarter worth $200,000. Cetera Advisor Networks LLC lifted its stake in shares of Northern Oil and Gas by 40.4% in the 1st quarter. Cetera Advisor Networks LLC now owns 17,783 shares of the company’s stock valued at $501,000 after acquiring an additional 5,121 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Northern Oil and Gas in the 1st quarter valued at $207,000. Finally, Citigroup Inc. lifted its stake in shares of Northern Oil and Gas by 32.9% in the 1st quarter. Citigroup Inc. now owns 88,939 shares of the company’s stock valued at $2,507,000 after acquiring an additional 22,033 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Northern Oil and Gas news, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the transaction, the insider now owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, President Adam A. Dirlam sold 2,088 shares of the firm’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 $79,344.00. Following the completion of the sale, the president now owns 122,359 shares in the company, valued at approximately $4,649,642. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James B. Evans sold 3,150 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the sale, the insider now 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 valued at $436,614 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NOG. Piper Sandler dropped their price target on Northern Oil and Gas from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Truist Financial decreased their price objective on 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. Raymond James decreased their price objective on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Stifel Nicolaus decreased their price objective on Northern Oil and Gas from $54.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Finally, Citigroup decreased their price target on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.60.

Northern Oil and Gas Stock Up 1.7 %

NYSE NOG traded up $0.70 during trading hours on Friday, hitting $42.75. The company’s stock had a trading volume of 557,386 shares, compared to its average volume of 1,259,087. Northern Oil and Gas, Inc. has a 52 week low of $29.57 and a 52 week high of $43.64. The company has a market capitalization of $4.32 billion, a PE ratio of 4.22 and a beta of 1.86. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90. The company’s 50-day simple moving average is $37.80 and its two-hundred day simple moving average is $37.16.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.03). Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The business had revenue of $543.40 million during the quarter, compared to the consensus estimate of $555.31 million. During the same period in the previous year, the business posted $1.43 EPS. Northern Oil and Gas’s revenue was up 21.9% compared to the same quarter last year. Research analysts anticipate that Northern Oil and Gas, Inc. will post 5.43 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.60 annualized dividend and a dividend yield of 3.74%. Northern Oil and Gas’s dividend payout ratio is currently 15.94%.

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.