Northern Oil and Gas, Inc. (NYSE:NOG) Shares Acquired by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC raised its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 3.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 338,861 shares of the company’s stock after buying an additional 10,961 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.34% of Northern Oil and Gas worth $12,592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NOG. Charles Schwab Investment Management Inc. increased its position in shares of Northern Oil and Gas by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock worth $34,902,000 after acquiring an additional 103,314 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Northern Oil and Gas by 37.8% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,256 shares of the company’s stock valued at $328,000 after purchasing an additional 2,541 shares during the period. Captrust Financial Advisors lifted its position in Northern Oil and Gas by 50.0% in the 3rd quarter. Captrust Financial Advisors now owns 18,478 shares of the company’s stock worth $654,000 after buying an additional 6,163 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Northern Oil and Gas during the 3rd quarter valued at about $1,079,000. Finally, Hotchkis & Wiley Capital Management LLC grew its position in Northern Oil and Gas by 1.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 306,490 shares of the company’s stock worth $10,853,000 after acquiring an additional 3,900 shares in the last quarter. 98.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Northern Oil and Gas news, CEO Nicholas L. O’grady purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the acquisition, the chief executive officer now owns 226,189 shares of the company’s stock, valued at $6,215,673.72. The trade was a 0.44 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares of the company’s stock, valued at $3,752,697. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Capital One Financial downgraded shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Morgan Stanley dropped their price target on Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. 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. Finally, Truist Financial lifted their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.33.

Northern Oil and Gas Trading Up 0.3 %

Shares of NYSE NOG opened at $30.24 on Tuesday. The stock has a market cap of $3.00 billion, a P/E ratio of 5.88 and a beta of 1.84. Northern Oil and Gas, Inc. has a 52-week low of $26.60 and a 52-week high of $44.31. The firm has a 50 day moving average price of $33.00 and a two-hundred day moving average price of $36.83. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The company had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. As a group, equities analysts forecast that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas declared that its board has authorized a share repurchase plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be given a dividend of $0.45 per share. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 35.02%.

Northern Oil and Gas 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.