Entropy Technologies LP Purchases 7,668 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Entropy Technologies LP raised its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 68.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,868 shares of the company’s stock after purchasing an additional 7,668 shares during the quarter. Entropy Technologies LP’s holdings in Northern Oil and Gas were worth $701,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NOG. Legacy Investment Solutions LLC acquired a new stake in Northern Oil and Gas in the 3rd quarter valued at approximately $25,000. Signaturefd LLC grew its stake in shares of Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after acquiring an additional 427 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after purchasing an additional 801 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after purchasing an additional 259 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Northern Oil and Gas by 58.6% in the third quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock worth $62,000 after purchasing an additional 647 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial raised their target price on shares of 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. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research report on Monday, December 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 target price on shares of Northern Oil and Gas in a report on Friday, January 10th. Finally, Piper Sandler decreased their price target on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.56.

Northern Oil and Gas Stock Performance

NOG opened at $36.24 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a 12-month low of $32.35 and a 12-month high of $44.31. The business has a 50 day moving average of $38.59 and a 200-day moving average of $38.57. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 4.35 and a beta of 1.81.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.45 per share. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 annualized dividend and a yield of 4.97%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 20.17%.

Insiders Place Their Bets

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now directly owns 96,223 shares in the company, valued at $3,752,697. This trade 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 at this hyperlink. Company insiders own 2.80% of the company’s stock.

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.