Midwest Professional Planners LTD. Sells 22,352 Shares of Northern Oil and Gas, Inc. $NOG

Midwest Professional Planners LTD. reduced its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 53.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,777 shares of the company’s stock after selling 22,352 shares during the period. Midwest Professional Planners LTD.’s holdings in Northern Oil and Gas were worth $425,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Channing Capital Management LLC raised its position in shares of Northern Oil and Gas by 15.7% in the 3rd quarter. Channing Capital Management LLC now owns 1,702,177 shares of the company’s stock worth $42,214,000 after acquiring an additional 230,899 shares in the last quarter. Maridea Wealth Management LLC bought a new position in shares of Northern Oil and Gas in the 3rd quarter worth about $1,307,000. 12th Street Asset Management Company LLC grew its stake in shares of Northern Oil and Gas by 20.0% in the 3rd quarter. 12th Street Asset Management Company LLC now owns 240,730 shares of the company’s stock valued at $5,970,000 after buying an additional 40,181 shares during the period. Register Financial Advisors LLC grew its stake in shares of Northern Oil and Gas by 364.4% in the 3rd quarter. Register Financial Advisors LLC now owns 104,547 shares of the company’s stock valued at $2,593,000 after buying an additional 82,033 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Northern Oil and Gas by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 10,873,455 shares of the company’s stock valued at $233,453,000 after purchasing an additional 141,499 shares during the last quarter. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Trading Up 0.7%

NYSE:NOG opened at $24.93 on Wednesday. The company has a market cap of $2.64 billion, a P/E ratio of -3.91 and a beta of 0.75. The stock’s fifty day moving average price is $26.95 and its two-hundred day moving average price is $24.72. Northern Oil and Gas, Inc. has a 1 year low of $20.18 and a 1 year high of $32.62. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.53 and a quick ratio of 0.53.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $5.03 million for the quarter, compared to analysts’ expectations of $511.38 million. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. As a group, analysts expect that Northern Oil and Gas, Inc. will post 3.13 EPS for the current year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, June 29th will be given a $0.45 dividend. The ex-dividend date is Monday, June 29th. This represents a $1.80 annualized dividend and a yield of 7.2%. Northern Oil and Gas’s payout ratio is -28.26%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NOG. Weiss Ratings downgraded Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Citigroup cut their target price on 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. Morgan Stanley restated an “underweight” rating on shares of Northern Oil and Gas in a research note on Friday, March 27th. Piper Sandler boosted their target price on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Finally, Royal Bank Of Canada lifted their price target on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 8th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.33.

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.