RFG Advisory LLC Acquires 1,291 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

RFG Advisory LLC lifted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 21.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,439 shares of the company’s stock after purchasing an additional 1,291 shares during the period. RFG Advisory LLC’s holdings in Northern Oil and Gas were worth $295,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOG. Principal Securities Inc. bought a new stake in Northern Oil and Gas during the 4th quarter worth about $42,000. TFO Wealth Partners LLC grew its stake in shares of Northern Oil and Gas by 112,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after purchasing an additional 1,121 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of Northern Oil and Gas by 305.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock valued at $46,000 after purchasing an additional 927 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Northern Oil and Gas in the 3rd quarter worth approximately $67,000. Finally, Quadrant Capital Group LLC lifted its holdings in Northern Oil and Gas by 74.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after buying an additional 930 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $38.42 on Wednesday. The stock’s fifty day simple moving average is $39.82 and its 200 day simple moving average is $37.73. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $3.88 billion, a PE ratio of 6.23 and a beta of 1.76. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $43.75.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The company had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. During the same quarter last year, the firm posted $1.76 earnings per share. Northern Oil and Gas’s revenue was down 31.9% compared to the same quarter last year. On average, research analysts predict that Northern Oil and Gas, Inc. will post 5.04 EPS for the current year.

Northern Oil and Gas Dividend Announcement

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

Wall Street Analysts Forecast Growth

NOG has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Truist Financial upped their target price on shares of Northern Oil and Gas from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Bank of America reiterated a “buy” rating and set a $48.00 price target on shares of Northern Oil and Gas in a research report on Friday, June 14th. StockNews.com upgraded shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Jefferies Financial Group lifted their target price on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.90.

Insider Activity

In related news, President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction 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 sale, the president now directly owns 109,020 shares in the company, valued at $4,454,557.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was 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 directly owns 109,020 shares of the company’s stock, valued at $4,454,557.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total value of $132,300.00. Following the completion of the sale, the insider now directly owns 73,753 shares in the company, valued at approximately $3,097,626. The disclosure for this sale can be found here. Insiders sold 8,292 shares of company stock worth $342,852 over the last quarter. 2.80% of the stock is currently owned by company insiders.

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.