Ellevest Inc. Makes New Investment in Northern Oil and Gas, Inc. $NOG

Ellevest Inc. purchased a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 11,798 shares of the company’s stock, valued at approximately $334,000.

A number of other hedge funds have also recently added to or reduced their stakes in NOG. Pinnacle Holdings LLC acquired a new stake in Northern Oil and Gas in the first quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Northern Oil and Gas by 133.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company’s stock valued at $27,000 after purchasing an additional 545 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Northern Oil and Gas by 200.3% during the 2nd quarter. UMB Bank n.a. now owns 955 shares of the company’s stock valued at $27,000 after purchasing an additional 637 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Northern Oil and Gas by 60.0% in the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company’s stock valued at $33,000 after purchasing an additional 405 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after purchasing an additional 713 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. William Blair assumed coverage on Northern Oil and Gas in a report on Monday, August 25th. They set an “outperform” rating on the stock. Morgan Stanley reissued an “underweight” rating and issued a $26.00 price objective (down from $27.00) on shares of Northern Oil and Gas in a research note on Tuesday, October 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Wednesday, October 8th. Mizuho lowered their price target on Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. Finally, Citigroup dropped their price target on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.00.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $20.46 on Friday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 3.38 and a beta of 1.48. The business has a 50 day moving average price of $24.00 and a 200 day moving average price of $26.19. 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, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Monday, March 6th. The company reported $1.06 EPS for the quarter. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%.The company had revenue of $319.19 million during the quarter. Research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, December 30th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.8%. The ex-dividend date is Tuesday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 29.70%.

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.