GAMMA Investing LLC Has $79,000 Position in Northern Oil and Gas, Inc. (NYSE:NOG)

GAMMA Investing LLC lifted its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 21.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,120 shares of the company’s stock after acquiring an additional 368 shares during the period. GAMMA Investing LLC’s holdings in Northern Oil and Gas were worth $79,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in NOG. Geode Capital Management LLC raised its holdings in Northern Oil and Gas by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock valued at $80,884,000 after acquiring an additional 100,761 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Northern Oil and Gas by 21.0% during the third quarter. Public Employees Retirement System of Ohio now owns 100,140 shares of the company’s stock valued at $3,546,000 after purchasing an additional 17,383 shares during the period. Hodges Capital Management Inc. raised its stake in shares of Northern Oil and Gas by 4.9% in the third quarter. Hodges Capital Management Inc. now owns 44,580 shares of the company’s stock valued at $1,579,000 after purchasing an additional 2,100 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Northern Oil and Gas in the third quarter valued at $25,000. Finally, Stifel Financial Corp lifted its position in Northern Oil and Gas by 7.6% in the third quarter. Stifel Financial Corp now owns 87,254 shares of the company’s stock worth $3,090,000 after purchasing an additional 6,168 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOG. Piper Sandler dropped their price objective on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Morgan Stanley dropped their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a report on Monday, December 16th. Truist Financial increased their target price on Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 price target on shares of Northern Oil and Gas in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Northern Oil and Gas presently has an average rating of “Moderate Buy” and an average target price of $47.20.

Insider Activity

In other news, President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the transaction, the president now owns 96,223 shares of the company’s stock, valued at $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.80% of the stock is owned by insiders.

Northern Oil and Gas Trading Up 1.3 %

NOG stock opened at $39.93 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 4.79 and a beta of 1.85. The business has a fifty day moving average price of $39.79 and a 200 day moving average price of $38.68. Northern Oil and Gas, Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The business had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. During the same period in the previous year, the business posted $1.73 earnings per share. The firm’s revenue for the quarter was up 140.0% compared to the same quarter last year. Analysts expect that Northern Oil and Gas, Inc. will post 5.4 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.21%. Northern Oil and Gas’s payout ratio is 20.17%.

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.