Creative Planning Buys 10,580 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Creative Planning grew its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 80.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,712 shares of the company’s stock after buying an additional 10,580 shares during the period. Creative Planning’s holdings in Northern Oil and Gas were worth $881,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Algert Global LLC bought a new position in shares of Northern Oil and Gas in the second quarter worth approximately $340,000. Scientech Research LLC purchased a new position in shares of Northern Oil and Gas during the 2nd quarter valued at $254,000. The Manufacturers Life Insurance Company boosted its holdings in Northern Oil and Gas by 10.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,288 shares of the company’s stock worth $2,092,000 after buying an additional 5,192 shares during the period. Xponance Inc. increased its stake in Northern Oil and Gas by 18.4% in the 2nd quarter. Xponance Inc. now owns 6,294 shares of the company’s stock worth $234,000 after buying an additional 977 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Northern Oil and Gas by 7.6% during the second quarter. Public Sector Pension Investment Board now owns 201,331 shares of the company’s stock valued at $7,483,000 after acquiring an additional 14,237 shares during the period. 98.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NOG has been the subject of a number of recent analyst reports. Truist Financial dropped their price objective on Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Bank of America increased their price objective 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. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. Finally, Morgan Stanley decreased 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 research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.80.

Insider Activity at Northern Oil and Gas

In related news, insider Erik J. Romslo sold 1,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the sale, the insider now directly owns 105,713 shares of the company’s stock, valued at $3,727,440.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the transaction, the insider now owns 105,713 shares of the company’s stock, valued at $3,727,440.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the sale, the president now owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,008 shares of company stock worth $228,013. Insiders own 2.80% of the company’s stock.

Northern Oil and Gas Trading Up 1.6 %

Shares of NOG stock opened at $39.87 on Friday. 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. The stock’s 50 day simple moving average is $37.50 and its two-hundred day simple moving average is $39.10. The company has a market cap of $3.99 billion, a PE ratio of 7.06 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 for the quarter, beating the consensus estimate of $1.20 by $0.26. The firm had revenue of $560.80 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 EPS. Research analysts predict that Northern Oil and Gas, Inc. will post 5.29 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The company 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 $0.42 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.68 annualized dividend and a dividend yield of 4.21%. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. Northern Oil and Gas’s dividend payout ratio is currently 29.73%.

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.