King Luther Capital Management Corp Purchases 5,539 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

King Luther Capital Management Corp lifted its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,232 shares of the company’s stock after purchasing an additional 5,539 shares during the quarter. King Luther Capital Management Corp owned 0.16% of Northern Oil and Gas worth $6,142,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westfield Capital Management Co. LP raised its stake in shares of Northern Oil and Gas by 9.3% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,537,719 shares of the company’s stock valued at $57,003,000 after buying an additional 131,448 shares in the last quarter. Vanguard Group Inc. lifted its stake in Northern Oil and Gas by 0.4% during the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after purchasing an additional 43,940 shares during the period. UniSuper Management Pty Ltd bought a new stake in shares of Northern Oil and Gas in the 1st quarter valued at approximately $1,046,000. Motley Fool Asset Management LLC raised its holdings in shares of Northern Oil and Gas by 29.0% in the 1st quarter. Motley Fool Asset Management LLC now owns 72,533 shares of the company’s stock worth $2,878,000 after buying an additional 16,302 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its position in shares of Northern Oil and Gas by 1.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock worth $29,747,000 after buying an additional 12,814 shares during the period. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Stock Down 0.4 %

Northern Oil and Gas stock opened at $37.11 on Friday. The company has a 50 day moving average of $38.37 and a 200-day moving average of $39.09. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.91. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $43.80. The stock has a market capitalization of $3.75 billion, a PE ratio of 6.01 and a beta of 1.81.

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

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Friday, September 27th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 27.23%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Bank of America lifted their price objective on Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. StockNews.com downgraded shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Truist Financial raised their price objective on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler decreased their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Finally, Morgan Stanley cut their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.70.

Insider Buying and Selling at Northern Oil and Gas

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

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.