Insight Wealth Strategies LLC Grows Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Insight Wealth Strategies LLC raised its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,366 shares of the company’s stock after purchasing an additional 2,241 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Northern Oil and Gas were worth $940,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Private Advisor Group LLC raised its holdings in shares of Northern Oil and Gas by 4.8% during the 3rd quarter. Private Advisor Group LLC now owns 6,118 shares of the company’s stock valued at $246,000 after buying an additional 282 shares during the period. Renaissance Technologies LLC grew its stake in Northern Oil and Gas by 3.3% during the 4th quarter. Renaissance Technologies LLC now owns 9,300 shares of the company’s stock valued at $287,000 after purchasing an additional 300 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Northern Oil and Gas by 1.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 29,761 shares of the company’s stock valued at $1,197,000 after purchasing an additional 306 shares in the last quarter. Kestra Advisory Services LLC grew its stake in Northern Oil and Gas by 1.1% during the 3rd quarter. Kestra Advisory Services LLC now owns 27,673 shares of the company’s stock valued at $1,113,000 after purchasing an additional 309 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Northern Oil and Gas by 3.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,197 shares of the company’s stock valued at $450,000 after purchasing an additional 332 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Northern Oil and Gas

In related news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $35.63, for a total transaction of $133,612.50. Following the transaction, the chief executive officer now directly owns 220,825 shares in the company, valued at $7,867,994.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider James B. Evans sold 945 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the sale, the insider now directly owns 83,872 shares in the company, valued at approximately $3,187,136. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $35.63, for a total value of $133,612.50. Following the transaction, the chief executive officer now directly owns 220,825 shares in the company, valued at approximately $7,867,994.75. The disclosure for this sale can be found here. Insiders have sold 7,794 shares of company stock worth $284,252 over the last three months. Company insiders own 3.20% of the company’s stock.

Northern Oil and Gas Stock Down 1.1 %

NYSE NOG traded down $0.45 on Friday, reaching $39.03. The stock had a trading volume of 780,136 shares, compared to its average volume of 1,234,325. Northern Oil and Gas, Inc. has a 1 year low of $26.91 and a 1 year high of $43.64. The business has a 50 day moving average price of $34.93 and a 200 day moving average price of $37.14. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 3.93 and a beta of 1.85. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90.

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 analysts’ consensus estimates of $1.64 by ($0.03). Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The company had revenue of $543.40 million during the quarter, compared to analyst estimates of $555.31 million. During the same period in the prior year, the firm earned $1.43 EPS. Northern Oil and Gas’s quarterly revenue was up 21.9% on a year-over-year basis. On average, analysts forecast that Northern Oil and Gas, Inc. will post 5.72 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.60 annualized dividend and a yield of 4.10%. Northern Oil and Gas’s dividend payout ratio is 15.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup lowered their price objective on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Jefferies Financial Group lifted their target price on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America downgraded Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price objective on the stock. in a research note on Friday, January 5th. Piper Sandler dropped their price objective on Northern Oil and Gas from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.60.

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.