Hennion & Walsh Asset Management Inc. Has $888,000 Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Hennion & Walsh Asset Management Inc. reduced its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 3.8% during the 1st quarter, HoldingsChannel reports. The firm owned 29,374 shares of the company’s stock after selling 1,158 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Northern Oil and Gas were worth $888,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new stake in shares of Northern Oil and Gas during the 4th quarter worth about $29,000. Blue Trust Inc. boosted its stake in Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after purchasing an additional 801 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Northern Oil and Gas during the 4th quarter worth about $66,000. Smartleaf Asset Management LLC lifted its stake in shares of Northern Oil and Gas by 297.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company’s stock valued at $77,000 after acquiring an additional 1,570 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Northern Oil and Gas by 187.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,347 shares of the company’s stock valued at $87,000 after acquiring an additional 1,530 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NOG has been the subject of several recent analyst reports. Bank of America increased their price target on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Capital One Financial downgraded Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Raymond James restated a “strong-buy” rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Citigroup lowered their price objective on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Finally, Morgan Stanley cut their target price on shares of Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Northern Oil and Gas currently has an average rating of “Hold” and a consensus price target of $39.67.

Northern Oil and Gas Stock Up 3.4%

Northern Oil and Gas stock opened at $28.75 on Friday. The stock has a market cap of $2.84 billion, a P/E ratio of 5.59 and a beta of 1.51. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The company’s 50-day moving average price is $25.60 and its two-hundred day moving average price is $32.48.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.21. The business had revenue of $602.10 million during the quarter, compared to analysts’ expectations of $568.87 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The business’s revenue was up 51.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 EPS. As a group, analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 28.04%.

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

Northern Oil and Gas Company 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.