Raymond James & Associates Has $10.30 Million Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Raymond James & Associates lowered its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 11.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 290,987 shares of the company’s stock after selling 38,435 shares during the quarter. Raymond James & Associates owned about 0.29% of Northern Oil and Gas worth $10,304,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Northern Oil and Gas by 1.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock worth $849,000 after buying an additional 320 shares in the last quarter. CWM LLC raised its stake in shares of Northern Oil and Gas by 24.8% in the third quarter. CWM LLC now owns 2,237 shares of the company’s stock worth $79,000 after acquiring an additional 444 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Northern Oil and Gas by 91.5% during the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after purchasing an additional 528 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Northern Oil and Gas by 2.2% during the second quarter. Arizona State Retirement System now owns 25,415 shares of the company’s stock valued at $945,000 after purchasing an additional 555 shares during the last quarter. Finally, Insight Wealth Strategies LLC grew its stake in shares of Northern Oil and Gas by 2.2% during the third quarter. Insight Wealth Strategies LLC now owns 27,799 shares of the company’s stock valued at $984,000 after purchasing an additional 602 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial reduced their price objective on Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Bank of America upped their price target on Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. 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 report on Wednesday, July 3rd. Mizuho initiated coverage on Northern Oil and Gas in a report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price objective for the company. Finally, Morgan Stanley reduced 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 note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.80.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $36.55 on Tuesday. The stock has a market cap of $3.66 billion, a PE ratio of 6.47 and a beta of 1.81. The stock has a 50-day moving average of $37.46 and a 200-day moving average of $38.88. 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, Inc. has a one year low of $31.13 and a one year high of $43.80.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. The firm had revenue of $560.80 million during 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%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.49 earnings per share. As a group, sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.43 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.42 dividend. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 27th. This represents a $1.68 annualized dividend and a dividend yield of 4.60%. Northern Oil and Gas’s payout ratio is 29.73%.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the transaction, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Chad W. Allen sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the completion of the transaction, the chief financial officer now owns 83,792 shares in the company, valued at $3,351,680. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the sale, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,008 shares of company stock worth $228,013 in the last quarter. Corporate 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.