Choreo LLC Makes New $266,000 Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

Choreo LLC bought a new position in Northern Oil and Gas, Inc. (NYSE:NOG) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,053 shares of the company’s stock, valued at approximately $266,000.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in 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 during the last quarter. Principal Securities Inc. bought a new position in Northern Oil and Gas in the 4th quarter worth about $42,000. TFO Wealth Partners LLC increased its stake in Northern Oil and Gas by 112,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after acquiring an additional 1,121 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Northern Oil and Gas by 74.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after acquiring an additional 930 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in Northern Oil and Gas by 88.2% in the 2nd quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock worth $82,000 after acquiring an additional 1,033 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on NOG shares. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Piper Sandler reduced their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Truist Financial increased their price objective on 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. Morgan Stanley reduced their price objective on 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.78.

Northern Oil and Gas Trading Up 0.3 %

Shares of NOG stock opened at $36.17 on Thursday. The stock has a market capitalization of $3.66 billion, a PE ratio of 5.86 and a beta of 1.81. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $43.80. The business has a 50-day moving average of $38.46 and a 200 day moving average of $39.10. 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 issued 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. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The company had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $542.28 million. During the same period in the prior year, the business posted $1.49 EPS. Northern Oil and Gas’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.42 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.68 annualized dividend and a yield of 4.64%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. Northern Oil and Gas’s dividend payout ratio (DPR) is 27.23%.

Insiders Place Their Bets

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

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.