Allspring Global Investments Holdings LLC Has $56.85 Million Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Allspring Global Investments Holdings LLC boosted its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,432,704 shares of the company’s stock after purchasing an additional 77,537 shares during the period. Allspring Global Investments Holdings LLC owned 1.42% of Northern Oil and Gas worth $56,850,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Northern Oil and Gas by 1.3% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock valued at $823,000 after buying an additional 290 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its position in shares of Northern Oil and Gas by 0.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 63,900 shares of the company’s stock valued at $2,369,000 after buying an additional 500 shares during the last quarter. Mariner LLC lifted its position in shares of Northern Oil and Gas by 2.7% in the third quarter. Mariner LLC now owns 19,828 shares of the company’s stock valued at $798,000 after buying an additional 515 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of Northern Oil and Gas by 1.8% in the fourth quarter. New York State Teachers Retirement System now owns 36,429 shares of the company’s stock valued at $1,350,000 after buying an additional 643 shares during the last quarter. Finally, SNS Financial Group LLC lifted its position in shares of Northern Oil and Gas by 13.0% in the fourth quarter. SNS Financial Group LLC now owns 5,650 shares of the company’s stock valued at $212,000 after buying an additional 650 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total value of $56,877.12. Following the transaction, the president now owns 109,020 shares in the company, valued at approximately $4,454,557.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total value of $56,877.12. Following the transaction, the president now owns 109,020 shares in the company, valued at approximately $4,454,557.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction 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 transaction, the insider now owns 73,753 shares in the company, valued at approximately $3,097,626. The disclosure for this sale can be found here. Insiders have sold a total of 9,684 shares of company stock worth $395,581 in the last 90 days. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock opened at $38.07 on Wednesday. The stock’s fifty day moving average price is $39.34 and its two-hundred day moving average price is $37.80. 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 debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $3.85 billion, a PE ratio of 6.17 and a beta of 1.80.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data 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 firm had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. During the same quarter last year, the company earned $1.76 EPS. The company’s revenue was down 31.9% on a year-over-year basis. As a group, research analysts expect that Northern Oil and Gas, Inc. will post 5.01 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a yield of 4.20%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 25.93%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NOG shares. Truist Financial raised their price objective on 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 reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Northern Oil and Gas in a research report on Friday, June 14th. Morgan Stanley increased 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 note on Monday, April 15th. Stifel Nicolaus increased their target price on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Piper Sandler increased their target price on Northern Oil and Gas from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.90.

About Northern Oil and Gas

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.