24,660 Shares in Northern Oil and Gas, Inc. (NYSE:NOG) Bought by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. bought a new position in Northern Oil and Gas, Inc. (NYSE:NOG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 24,660 shares of the company’s stock, valued at approximately $939,000.

Several other hedge funds also recently made changes to their positions in NOG. GAMMA Investing LLC increased its stake in shares of Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after buying an additional 528 shares during the period. TFO Wealth Partners LLC increased its stake in shares of 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 buying an additional 1,121 shares during the period. Quarry LP boosted its holdings in Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after acquiring an additional 874 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Northern Oil and Gas by 88.2% in the second quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock valued at $82,000 after acquiring an additional 1,033 shares in the last quarter. Finally, Marks Group Wealth Management Inc bought a new stake in Northern Oil and Gas in the first quarter valued at $215,000. 98.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the transaction, the chief executive officer now owns 224,332 shares in the company, valued at approximately $8,526,859.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.80% of the stock is currently owned by company insiders.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $36.40 on Wednesday. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 5.90 and a beta of 1.81. The firm’s 50-day moving average is $37.70 and its 200 day moving average is $39.10. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $43.80. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly 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. The company had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. Northern Oil and Gas’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.49 EPS. Sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.29 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.42 dividend. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a yield of 4.62%. Northern Oil and Gas’s payout ratio is presently 27.23%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NOG. Morgan Stanley cut their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Bank of America lifted their price target on shares of 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 cut shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Piper Sandler cut 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 report on Thursday, August 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $46.00 target price on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and an average target price of $46.60.

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.