Northern Oil and Gas, Inc. (NYSE:NOG) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 36.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,587,536 shares of the company’s stock after purchasing an additional 2,827,642 shares during the period. Vanguard Group Inc. owned 10.50% of Northern Oil and Gas worth $392,480,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in shares of Northern Oil and Gas by 36.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 370,347 shares of the company’s stock valued at $14,899,000 after acquiring an additional 98,153 shares during the period. Mariner LLC increased its position in shares of Northern Oil and Gas by 2.7% in the 3rd quarter. Mariner LLC now owns 19,828 shares of the company’s stock valued at $798,000 after acquiring an additional 515 shares during the period. Northern Trust Corp increased its position in shares of Northern Oil and Gas by 9.2% in the 3rd quarter. Northern Trust Corp now owns 1,019,582 shares of the company’s stock valued at $41,018,000 after acquiring an additional 86,253 shares during the period. Natixis Advisors L.P. increased its position in shares of Northern Oil and Gas by 65.3% in the 3rd quarter. Natixis Advisors L.P. now owns 90,793 shares of the company’s stock valued at $3,652,000 after acquiring an additional 35,854 shares during the period. Finally, Alpine Global Management LLC acquired a new position in shares of Northern Oil and Gas in the 3rd quarter valued at $603,000. 98.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOG has been the topic of several research reports. Morgan Stanley upped their target price on Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Bank of America reaffirmed a “buy” rating and issued a $48.00 price target on shares of Northern Oil and Gas in a report on Friday, June 14th. Jefferies Financial Group upped their price target on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Stifel Nicolaus upped 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. Finally, Truist Financial upped their price target on shares of Northern Oil and Gas from $55.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.90.

Northern Oil and Gas Trading Down 1.0 %

NOG stock opened at $37.69 on Friday. The company’s 50-day simple moving average is $39.65 and its 200-day simple moving average is $37.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $43.75. The firm has a market cap of $3.81 billion, a P/E ratio of 6.11 and a beta of 1.76.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share 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 firm had revenue of $396.35 million during the quarter, compared to the consensus estimate of $505.67 million. During the same quarter in the prior year, the firm earned $1.76 EPS. The company’s revenue for the quarter was down 31.9% on a year-over-year basis. As a group, equities analysts forecast that Northern Oil and Gas, Inc. will post 5.04 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Thursday, June 27th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 annualized dividend and a dividend yield of 4.25%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 25.93%.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction dated 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 approximately $4,454,557.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction dated 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 approximately $4,454,557.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James B. Evans sold 3,150 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the sale, the insider now owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. 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 90 days. Insiders own 2.80% of the company’s stock.

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.