Federated Hermes Inc. Grows Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Federated Hermes Inc. lifted its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 10.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 111,744 shares of the company’s stock after buying an additional 10,214 shares during the period. Federated Hermes Inc. owned approximately 0.11% of Northern Oil and Gas worth $4,154,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Northern Oil and Gas by 0.4% in the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock valued at $421,857,000 after acquiring an additional 43,940 shares in the last quarter. American Century Companies Inc. grew its stake in Northern Oil and Gas by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after buying an additional 552,645 shares during the last quarter. Westfield Capital Management Co. LP increased its position in Northern Oil and Gas by 13.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock valued at $69,430,000 after buying an additional 212,030 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Northern Oil and Gas by 5.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,432,704 shares of the company’s stock valued at $56,850,000 after buying an additional 77,537 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Northern Oil and Gas by 1.1% in the first quarter. Principal Financial Group Inc. now owns 1,422,435 shares of the company’s stock worth $56,442,000 after acquiring an additional 16,081 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG opened at $36.17 on Thursday. The company has a market capitalization of $3.66 billion, a PE ratio of 5.86 and a beta of 1.81. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. The company’s fifty day moving average price is $38.46 and its 200 day moving average price is $39.10. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $43.80.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. The firm had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the firm earned $1.49 EPS. On average, research analysts predict that Northern Oil and Gas, Inc. will post 5.41 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.64%. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 27th. Northern Oil and Gas’s dividend payout ratio is presently 27.23%.

Wall Street Analyst Weigh In

A number of research firms recently commented on NOG. Morgan Stanley lowered their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday. Bank of America lifted their target price on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Truist Financial increased their price objective on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Piper Sandler decreased their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.78.

Insider Activity

In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $37.88, for a total transaction of $52,728.96. Following the transaction, the president now directly owns 107,628 shares of the company’s stock, valued at $4,076,948.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $38.01, for a total transaction of $142,537.50. Following the completion of the sale, the chief executive officer now directly owns 224,332 shares in the company, valued at approximately $8,526,859.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.88, for a total value of $52,728.96. Following the completion of the transaction, the president now owns 107,628 shares in the company, valued at approximately $4,076,948.64. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

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.