Northern Oil and Gas, Inc. (NYSE:NOG) Holdings Raised by Range Financial Group LLC

Range Financial Group LLC boosted its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 12.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,289 shares of the company’s stock after buying an additional 816 shares during the quarter. Range Financial Group LLC’s holdings in Northern Oil and Gas were worth $289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP lifted its holdings in shares of Northern Oil and Gas by 9.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,537,719 shares of the company’s stock worth $57,003,000 after acquiring an additional 131,448 shares during the period. Ninepoint Partners LP lifted its holdings in shares of Northern Oil and Gas by 12.5% during the 4th quarter. Ninepoint Partners LP now owns 450,000 shares of the company’s stock worth $16,682,000 after acquiring an additional 50,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Northern Oil and Gas by 34.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,963 shares of the company’s stock worth $555,000 after acquiring an additional 3,848 shares during the period. Wellington Management Group LLP lifted its holdings in Northern Oil and Gas by 11.6% during the 3rd quarter. Wellington Management Group LLP now owns 417,265 shares of the company’s stock valued at $16,787,000 after purchasing an additional 43,527 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Northern Oil and Gas by 38.6% during the 3rd quarter. Sei Investments Co. now owns 419,762 shares of the company’s stock valued at $16,888,000 after purchasing an additional 116,983 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Up 4.6 %

Shares of NYSE:NOG opened at $38.46 on Tuesday. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $43.75. The company has a 50 day moving average of $39.90 and a 200-day moving average of $37.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 6.23 and a beta of 1.76.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.18 by $0.10. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The company had revenue of $396.35 million during the quarter, compared to analysts’ expectations of $505.67 million. During the same quarter in the previous year, the company earned $1.76 EPS. Northern Oil and Gas’s revenue was down 31.9% on a year-over-year basis. On average, sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.04 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Thursday, June 27th. Northern Oil and Gas’s dividend payout ratio is 25.93%.

Insider Transactions at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $40.86, for a total transaction of $56,877.12. Following the completion of the transaction, the president now owns 109,020 shares in the company, valued at $4,454,557.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total transaction of $153,675.00. Following the completion of the transaction, the chief executive officer now owns 228,082 shares in the company, valued at $9,346,800.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $40.86, for a total transaction of $56,877.12. Following the transaction, the president now owns 109,020 shares of the company’s stock, valued at approximately $4,454,557.20. The disclosure for this sale can be found here. Insiders sold a total of 8,292 shares of company stock worth $342,852 in the last quarter. 2.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Morgan Stanley lifted their price target on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Bank of America reissued a “buy” rating and set a $48.00 price target on shares of Northern Oil and Gas in a report on Friday, June 14th. Finally, Citigroup dropped their target price on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.90.

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.