Hood River Capital Management LLC Has $35.52 Million Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Hood River Capital Management LLC increased its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 14.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 955,579 shares of the company’s stock after buying an additional 120,356 shares during the period. Hood River Capital Management LLC owned 0.95% of Northern Oil and Gas worth $35,519,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NOG. GAMMA Investing LLC raised its position in shares of Northern Oil and Gas by 91.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after acquiring an additional 528 shares in the last quarter. TFO Wealth Partners LLC increased its holdings in Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after purchasing an additional 1,121 shares in the last quarter. Principal Securities Inc. bought a new stake in Northern Oil and Gas in the fourth quarter worth approximately $42,000. Quadrant Capital Group LLC lifted its stake in Northern Oil and Gas by 74.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock valued at $81,000 after buying an additional 930 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Northern Oil and Gas by 88.2% during the 2nd quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock worth $82,000 after buying an additional 1,033 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Insider Transactions at Northern Oil and Gas

In related news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction 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 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 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 stock in a transaction that occurred 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 directly owns 224,332 shares in the company, valued at approximately $8,526,859.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $37.88, for a total value of $52,728.96. Following the transaction, the president now owns 107,628 shares of the company’s stock, valued at $4,076,948.64. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Northern Oil and Gas Trading Down 0.4 %

Shares of Northern Oil and Gas stock opened at $37.11 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. The stock has a fifty day simple moving average of $38.37 and a 200 day simple moving average of $39.14. Northern Oil and Gas, Inc. has a 12-month low of $31.13 and a 12-month high of $43.80. The company has a market capitalization of $3.75 billion, a P/E ratio of 6.01 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.26. The business 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 business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.49 earnings per share. On average, sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.41 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Morgan Stanley cut their price objective 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. Bank of America upped their price target on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Mizuho assumed coverage on Northern Oil and Gas in a report on Thursday. They issued an “outperform” rating and a $47.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.70.

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.