Northern Oil and Gas, Inc. $NOG Shares Purchased by Channing Capital Management LLC

Channing Capital Management LLC lifted its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 8.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,920,258 shares of the company’s stock after purchasing an additional 153,635 shares during the period. Northern Oil and Gas comprises about 1.8% of Channing Capital Management LLC’s portfolio, making the stock its 29th biggest holding. Channing Capital Management LLC’s holdings in Northern Oil and Gas were worth $58,049,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NOG. Mariner LLC lifted its stake in shares of Northern Oil and Gas by 8.6% in the 4th quarter. Mariner LLC now owns 24,746 shares of the company’s stock valued at $920,000 after purchasing an additional 1,950 shares during the period. Marshall Wace LLP lifted its stake in shares of Northern Oil and Gas by 9.7% in the 4th quarter. Marshall Wace LLP now owns 9,540 shares of the company’s stock valued at $355,000 after purchasing an additional 840 shares during the period. First Trust Advisors LP lifted its stake in shares of Northern Oil and Gas by 17.0% in the 4th quarter. First Trust Advisors LP now owns 492,362 shares of the company’s stock valued at $18,296,000 after purchasing an additional 71,545 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Northern Oil and Gas by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,296,886 shares of the company’s stock valued at $122,507,000 after purchasing an additional 68,631 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in shares of Northern Oil and Gas by 4.5% in the 4th quarter. MetLife Investment Management LLC now owns 59,818 shares of the company’s stock valued at $2,223,000 after purchasing an additional 2,581 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOG has been the subject of several recent analyst reports. Piper Sandler reissued a “neutral” rating and issued a $25.00 price target (down previously from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. Bank of America boosted their price target on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Raymond James Financial reissued a “strong-buy” rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Mizuho cut their price target on shares of Northern Oil and Gas from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, July 16th. Finally, Morgan Stanley lowered shares of Northern Oil and Gas from a “positive” rating to an “underweight” rating and cut their price target for the stock from $29.00 to $27.00 in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Northern Oil and Gas presently has an average rating of “Moderate Buy” and an average target price of $36.89.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock opened at $23.2250 on Thursday. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 3.83 and a beta of 1.55. The company has a fifty day simple moving average of $28.05 and a 200-day simple moving average of $28.35. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.50. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The business had revenue of $706.81 million during the quarter, compared to analyst estimates of $555.54 million. During the same quarter in the prior year, the firm earned $1.46 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.8%. Northern Oil and Gas’s dividend payout ratio is presently 29.70%.

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.