Hodges Capital Management Inc. Decreases Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Hodges Capital Management Inc. lowered its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 17.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,080 shares of the company’s stock after selling 8,250 shares during the quarter. Hodges Capital Management Inc.’s holdings in Northern Oil and Gas were worth $1,551,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NOG. Doliver Advisors LP lifted its position in shares of Northern Oil and Gas by 5.6% during the 1st quarter. Doliver Advisors LP now owns 28,072 shares of the company’s stock worth $1,114,000 after buying an additional 1,490 shares during the last quarter. Range Financial Group LLC lifted its position in shares of Northern Oil and Gas by 12.6% during the 1st quarter. Range Financial Group LLC now owns 7,289 shares of the company’s stock worth $289,000 after buying an additional 816 shares during the last quarter. RFG Advisory LLC lifted its position in shares of Northern Oil and Gas by 21.0% during the 1st quarter. RFG Advisory LLC now owns 7,439 shares of the company’s stock worth $295,000 after buying an additional 1,291 shares during the last quarter. Insight Wealth Strategies LLC lifted its position in shares of Northern Oil and Gas by 4.4% during the 1st quarter. Insight Wealth Strategies LLC now owns 26,480 shares of the company’s stock worth $1,051,000 after buying an additional 1,114 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Northern Oil and Gas by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after buying an additional 2,827,642 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $37.17 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $3.76 billion, a P/E ratio of 6.02 and a beta of 1.76. The company’s fifty day moving average is $39.54 and its two-hundred day moving average is $37.76. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $43.75.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.10. The company had revenue of $396.35 million for the quarter, compared to analysts’ expectations of $505.67 million. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. Northern Oil and Gas’s revenue was down 31.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.76 EPS. On average, sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.03 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 annualized dividend and a yield of 4.30%. Northern Oil and Gas’s dividend payout ratio is currently 25.93%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total value of $153,675.00. Following the transaction, the chief executive officer now directly owns 228,082 shares of the company’s stock, valued at approximately $9,346,800.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the transaction, the insider now directly owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total transaction of $153,675.00. Following the transaction, the chief executive officer now directly owns 228,082 shares in the company, valued at $9,346,800.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,292 shares of company stock valued at $342,852. 2.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on NOG shares. Bank of America restated a “buy” rating and set a $48.00 price objective on shares of Northern Oil and Gas in a research report on Friday, June 14th. Jefferies Financial Group boosted their price objective on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Truist Financial boosted their price objective on shares of Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Morgan Stanley lifted their target price 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. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas has an average rating of “Moderate Buy” and a consensus target price of $48.90.

Northern Oil and Gas 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.