Motley Fool Asset Management LLC Has $2.08 Million Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Motley Fool Asset Management LLC lifted its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,231 shares of the company’s stock after purchasing an additional 4,518 shares during the period. Motley Fool Asset Management LLC owned 0.06% of Northern Oil and Gas worth $2,084,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Northern Oil and Gas by 26.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,759,894 shares of the company’s stock worth $312,181,000 after acquiring an additional 1,635,739 shares during the period. Invesco Ltd. grew its holdings in shares of Northern Oil and Gas by 19.0% in the 3rd quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock valued at $152,318,000 after buying an additional 605,197 shares during the period. American Century Companies Inc. grew its holdings in shares of Northern Oil and Gas by 27.0% in the 3rd quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock valued at $103,085,000 after buying an additional 545,297 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Northern Oil and Gas by 55.9% in the 3rd quarter. New York State Common Retirement Fund now owns 636,082 shares of the company’s stock valued at $25,590,000 after buying an additional 228,009 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its holdings in shares of Northern Oil and Gas by 13.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,445,517 shares of the company’s stock valued at $58,153,000 after buying an additional 175,000 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Insider Activity

In other news, President Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $79,344.00. Following the sale, the president now directly owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $40.98, for a total value of $153,675.00. Following the sale, the chief executive officer now directly owns 228,082 shares of the company’s stock, valued at approximately $9,346,800.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were 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 ninety days, insiders have sold 10,944 shares of company stock valued at $436,614. 2.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Citigroup decreased their price target on shares of Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a research report on Monday. Bank of America cut shares of 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 report on Friday, January 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.30.

Northern Oil and Gas Stock Up 0.4 %

NYSE:NOG traded up $0.19 on Friday, hitting $43.25. 1,025,306 shares of the company’s stock were exchanged, compared to its average volume of 1,267,936. The firm has a 50-day moving average price of $38.77 and a 200-day moving average price of $37.31. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.32. Northern Oil and Gas, Inc. has a 52 week low of $29.57 and a 52 week high of $43.64. The company has a market cap of $4.37 billion, a P/E ratio of 4.31 and a beta of 1.86.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing the consensus estimate 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 business had revenue of $543.40 million for the quarter, compared to the consensus estimate of $555.31 million. During the same period last year, the firm earned $1.43 earnings per share. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, analysts expect that Northern Oil and Gas, Inc. will post 5.53 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.70%. 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.