Ninepoint Partners LP Has $16.68 Million Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Ninepoint Partners LP increased its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 12.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 450,000 shares of the company’s stock after buying an additional 50,000 shares during the period. Northern Oil and Gas comprises about 1.8% of Ninepoint Partners LP’s investment portfolio, making the stock its 7th largest position. Ninepoint Partners LP owned approximately 0.45% of Northern Oil and Gas worth $16,682,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jump Financial LLC bought a new stake in Northern Oil and Gas during the third quarter valued at $4,462,000. Wellington Management Group LLP boosted its holdings in shares of Northern Oil and Gas by 11.6% during the third quarter. Wellington Management Group LLP now owns 417,265 shares of the company’s stock valued at $16,787,000 after acquiring an additional 43,527 shares during the period. Sei Investments Co. boosted its holdings in shares of Northern Oil and Gas by 38.6% during the third quarter. Sei Investments Co. now owns 419,762 shares of the company’s stock valued at $16,888,000 after acquiring an additional 116,983 shares during the period. Swiss National Bank boosted its holdings in shares of Northern Oil and Gas by 10.0% during the third quarter. Swiss National Bank now owns 173,800 shares of the company’s stock valued at $6,992,000 after acquiring an additional 15,800 shares during the period. Finally, TD Asset Management Inc boosted its holdings in shares of Northern Oil and Gas by 44.1% during the third quarter. TD Asset Management Inc now owns 25,800 shares of the company’s stock valued at $1,038,000 after acquiring an additional 7,900 shares during the period. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock traded up $0.70 during trading hours on Friday, reaching $42.75. 557,386 shares of the company were exchanged, compared to its average volume of 1,259,087. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 4.22 and a beta of 1.86. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average of $37.80 and a 200 day moving average of $37.16. Northern Oil and Gas, Inc. has a 12 month low of $29.57 and a 12 month high of $43.64.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results 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 company had revenue of $543.40 million for the quarter, compared to the consensus estimate of $555.31 million. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.43 EPS. As a group, research analysts anticipate that Northern Oil and Gas, Inc. will post 5.43 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.74%. Northern Oil and Gas’s payout ratio is 15.94%.

Insider Activity at Northern Oil and Gas

In related news, insider James B. Evans sold 945 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the transaction, the insider now directly owns 83,872 shares in the company, valued at $3,187,136. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the completion of the transaction, the insider now directly owns 73,753 shares in the company, valued at $3,097,626. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James B. Evans sold 945 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $35,910.00. Following the transaction, the insider now owns 83,872 shares of the company’s stock, valued at $3,187,136. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,944 shares of company stock worth $436,614. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NOG has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Truist Financial reduced their price objective on shares of Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating for the company in a report on Friday, April 5th. Stifel Nicolaus reduced their price objective on shares of Northern Oil and Gas from $54.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Citigroup reduced their price objective 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. Finally, Bank of America downgraded shares of Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price target for the company. in a report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Northern Oil and Gas has a consensus rating of “Moderate Buy” and a consensus target price of $46.60.

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.