Aristotle Capital Boston LLC Trims Holdings in Northern Oil and Gas, Inc. $NOG

Aristotle Capital Boston LLC decreased its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 315,356 shares of the company’s stock after selling 31,120 shares during the quarter. Aristotle Capital Boston LLC owned about 0.32% of Northern Oil and Gas worth $6,771,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in Northern Oil and Gas by 55.1% in the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock valued at $1,233,000 after buying an additional 14,492 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Northern Oil and Gas by 3.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,334 shares of the company’s stock valued at $1,763,000 after buying an additional 1,865 shares during the period. Jones Financial Companies Lllp increased its stake in 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 buying an additional 713 shares during the period. Empowered Funds LLC increased its stake in Northern Oil and Gas by 5.0% in the 1st quarter. Empowered Funds LLC now owns 65,217 shares of the company’s stock valued at $1,972,000 after buying an additional 3,124 shares during the period. Finally, Intech Investment Management LLC increased its stake in Northern Oil and Gas by 41.8% in the 1st quarter. Intech Investment Management LLC now owns 46,453 shares of the company’s stock valued at $1,404,000 after buying an additional 13,690 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $19.33 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.43. Northern Oil and Gas, Inc. has a fifty-two week low of $19.25 and a fifty-two week high of $32.17. The stock has a market cap of $2.10 billion, a PE ratio of -3.03 and a beta of 0.68. The firm’s fifty day simple moving average is $24.07 and its 200-day simple moving average is $24.71.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, topping 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 business had revenue of $5.03 million for the quarter, compared to analysts’ expectations of $511.38 million. During the same period in the prior year, the company posted $1.33 EPS. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. Analysts expect that Northern Oil and Gas, Inc. will post 3.42 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, June 29th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.3%. Northern Oil and Gas’s dividend payout ratio is -28.26%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NOG. Citigroup dropped their price objective on shares of Northern Oil and Gas from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Wall Street Zen raised shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Raymond James Financial set a $30.00 price objective on shares of Northern Oil and Gas and gave the company an “outperform” rating in a research note on Monday. Bank of America boosted their price objective on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Finally, Weiss Ratings cut shares of Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Northern Oil and Gas currently has an average rating of “Hold” and an average target price of $32.38.

About Northern Oil and Gas

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.