Epiq Partners LLC Boosts Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Epiq Partners LLC boosted its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 15.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,664 shares of the company’s stock after purchasing an additional 11,669 shares during the quarter. Northern Oil and Gas comprises 2.3% of Epiq Partners LLC’s investment portfolio, making the stock its 16th biggest position. Epiq Partners LLC owned about 0.09% of Northern Oil and Gas worth $3,250,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quadrant Capital Group LLC lifted its stake in Northern Oil and Gas by 259.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 740 shares of the company’s stock worth $25,000 after purchasing an additional 534 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Northern Oil and Gas by 1,349.4% in the 2nd quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock worth $29,000 after buying an additional 1,066 shares during the last quarter. Quarry LP bought a new position in shares of Northern Oil and Gas in the 2nd quarter worth $31,000. DekaBank Deutsche Girozentrale bought a new position in shares of Northern Oil and Gas in the 3rd quarter worth $67,000. Finally, State of Wyoming bought a new position in shares of Northern Oil and Gas in the 4th quarter worth $82,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NOG has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on shares of Northern Oil and Gas in a report on Friday, January 5th. They issued an “equal weight” rating and a $40.00 price target on the stock. Stifel Nicolaus decreased their target price on shares of Northern Oil and Gas from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Piper Sandler decreased their target price on shares of Northern Oil and Gas from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Truist Financial decreased their target price on shares of Northern Oil and Gas from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, Johnson Rice cut shares of Northern Oil and Gas from a “buy” rating to an “accumulate” rating in a research report on Thursday, December 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Northern Oil and Gas has an average rating of “Moderate Buy” and a consensus price target of $46.50.

Insider Activity

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 shares were sold at an average price of $35.63, for a total transaction of $133,612.50. Following the sale, the chief executive officer now owns 220,825 shares of the company’s stock, valued at $7,867,994.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were sold at an average price of $35.63, for a total transaction of $133,612.50. Following the sale, the chief executive officer now owns 220,825 shares of the company’s stock, valued at $7,867,994.75. The transaction was disclosed in a legal 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 that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the completion of the transaction, the president now owns 122,359 shares in the company, valued at approximately $4,649,642. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,794 shares of company stock valued at $284,252. Corporate insiders own 3.60% of the company’s stock.

Northern Oil and Gas Trading Up 0.1 %

Shares of NOG stock traded up $0.05 during mid-day trading on Wednesday, reaching $39.15. The stock had a trading volume of 1,181,384 shares, compared to its average volume of 1,248,622. The stock’s 50-day moving average price is $34.78 and its two-hundred day moving average price is $37.11. Northern Oil and Gas, Inc. has a 52-week low of $26.91 and a 52-week high of $43.64. The firm has a market capitalization of $3.95 billion, a PE ratio of 3.89 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 released its quarterly earnings data on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). The firm had revenue of $543.40 million during the quarter, compared to analysts’ expectations of $555.31 million. Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. Northern Oil and Gas’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.43 EPS. Equities analysts expect that Northern Oil and Gas, Inc. will post 5.72 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Wednesday, March 27th. Northern Oil and Gas’s payout ratio is 15.94%.

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.