Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Epiq Partners LLC

Epiq Partners LLC cut its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 15.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,790 shares of the company’s stock after selling 12,537 shares during the period. Northern Oil and Gas accounts for approximately 1.4% of Epiq Partners LLC’s investment portfolio, making the stock its 22nd biggest holding. Epiq Partners LLC owned about 0.07% of Northern Oil and Gas worth $2,631,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NOG. Icon Wealth Advisors LLC purchased a new stake in Northern Oil and Gas in the third quarter valued at about $828,000. Heritage Family Offices LLP purchased a new position in shares of Northern Oil and Gas in the 4th quarter valued at approximately $244,000. Heritage Wealth Management Inc. purchased a new stake in Northern Oil and Gas during the 2nd quarter worth approximately $939,000. Wesbanco Bank Inc. acquired a new position in Northern Oil and Gas during the 3rd quarter valued at approximately $1,080,000. Finally, Tributary Capital Management LLC raised its holdings in shares of Northern Oil and Gas by 11.8% in the fourth quarter. Tributary Capital Management LLC now owns 588,487 shares of the company’s stock worth $21,868,000 after buying an additional 62,300 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

NYSE:NOG opened at $37.19 on Tuesday. 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 company has a 50 day moving average price of $39.96 and a 200-day moving average price of $38.86. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $44.31. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 4.47 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. During the same quarter in the previous year, the company earned $1.73 earnings per share. The firm’s revenue for the quarter was up 140.0% on a year-over-year basis. Equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.34 EPS for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s payout ratio is 20.17%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial upped their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 target price for the company. Piper Sandler cut their price target on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Mizuho cut 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 note on Monday, December 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 price objective on shares of Northern Oil and Gas in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Hold” and an average target price of $47.78.

Insider Buying and Selling at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the sale, the president now directly owns 96,223 shares of the company’s stock, valued at $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 1,836 shares of company stock valued at $72,869 over the last ninety days. Corporate insiders own 2.80% of the company’s stock.

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.