Northern Oil and Gas, Inc. $NOG Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,873,455 shares of the company’s stock after buying an additional 141,499 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Northern Oil and Gas worth $233,453,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOG. First Horizon Corp purchased a new stake in shares of Northern Oil and Gas during the third quarter worth about $27,000. Jones Financial Companies Lllp raised its position in shares of Northern Oil and Gas by 181.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after purchasing an additional 713 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Northern Oil and Gas by 429.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock worth $43,000 after purchasing an additional 1,228 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Northern Oil and Gas by 85.7% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock worth $44,000 after purchasing an additional 702 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Northern Oil and Gas during the 1st quarter worth approximately $88,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG opened at $23.45 on Friday. The company has a market capitalization of $2.48 billion, a PE ratio of -3.68 and a beta of 0.75. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.53. The company’s fifty day moving average price is $27.55 and its 200 day moving average price is $24.59. Northern Oil and Gas, Inc. has a 1 year low of $20.18 and a 1 year high of $32.62.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. The company had revenue of $5.03 million during the quarter, compared to analysts’ expectations of $511.38 million. During the same quarter in the previous year, the company earned $1.33 earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, research analysts predict that Northern Oil and Gas, Inc. will post 3.23 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, March 30th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.7%. The ex-dividend date was Monday, March 30th. Northern Oil and Gas’s payout ratio is currently -28.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Weiss Ratings lowered shares of Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Mizuho set a $29.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, January 21st. Bank of America upped their target price on Northern Oil and Gas from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Citigroup reduced their target price on Northern Oil and Gas from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Finally, Piper Sandler raised their price target on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $32.00.

Northern Oil and Gas Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.