Foster & Motley Inc. Lowers Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Foster & Motley Inc. lessened its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,553 shares of the company’s stock after selling 436 shares during the period. Foster & Motley Inc.’s holdings in Northern Oil and Gas were worth $354,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Jump Financial LLC purchased a new position in Northern Oil and Gas in the 3rd quarter worth approximately $4,462,000. Ninepoint Partners LP increased its stake in shares of Northern Oil and Gas by 12.5% in the 4th quarter. Ninepoint Partners LP now owns 450,000 shares of the company’s stock worth $16,682,000 after acquiring an additional 50,000 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Northern Oil and Gas by 11.6% in the 3rd quarter. Wellington Management Group LLP now owns 417,265 shares of the company’s stock worth $16,787,000 after acquiring an additional 43,527 shares in the last quarter. Sei Investments Co. lifted its position in Northern Oil and Gas by 38.6% during the 3rd quarter. Sei Investments Co. now owns 419,762 shares of the company’s stock valued at $16,888,000 after acquiring an additional 116,983 shares during the period. Finally, Swiss National Bank boosted its stake in Northern Oil and Gas by 10.0% during the third quarter. Swiss National Bank now owns 173,800 shares of the company’s stock worth $6,992,000 after acquiring an additional 15,800 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the sale, the insider now directly owns 73,753 shares in the company, valued at approximately $3,097,626. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction 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 in the company, valued at approximately $3,097,626. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $79,344.00. Following the completion of the sale, the president now owns 122,359 shares of the company’s stock, valued at $4,649,642. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,944 shares of company stock valued at $436,614. 2.80% of the stock is owned by company insiders.

Northern Oil and Gas Price Performance

NOG opened at $42.97 on Thursday. The company’s 50-day simple moving average is $38.60 and its two-hundred day simple moving average is $37.27. 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 stock has a market capitalization of $4.34 billion, a P/E ratio of 4.28 and a beta of 1.86. Northern Oil and Gas, Inc. has a 52-week low of $29.57 and a 52-week high of $43.64.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Friday, February 23rd. The company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $543.40 million for the quarter, compared to the consensus estimate of $555.31 million. During the same quarter last year, the company earned $1.43 EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, analysts predict that Northern Oil and Gas, Inc. will post 5.5 EPS for the current year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 15.94%.

Wall Street Analyst Weigh In

NOG has been the topic of a number of analyst reports. Jefferies Financial Group boosted their price target on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Raymond James reduced their price target 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. Piper Sandler upped their price target on shares of Northern Oil and Gas from $38.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Citigroup cut their price objective on shares of Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus lifted their target price on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Northern Oil and Gas has a consensus rating of “Moderate Buy” and an average target price of $47.30.

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.