GAMMA Investing LLC increased its holdings in Northern Oil and Gas, Inc. (NYSE:NOG – Free Report) by 91.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,105 shares of the company’s stock after acquiring an additional 528 shares during the period. GAMMA Investing LLC’s holdings in Northern Oil and Gas were worth $41,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their holdings in the company. Boston Partners acquired a new position in Northern Oil and Gas in the first quarter worth about $885,000. Verity Asset Management Inc. acquired a new position in Northern Oil and Gas in the first quarter worth about $423,000. Garner Asset Management Corp acquired a new position in Northern Oil and Gas in the first quarter worth about $281,000. Motley Fool Asset Management LLC increased its position in Northern Oil and Gas by 31.4% in the first quarter. Motley Fool Asset Management LLC now owns 73,863 shares of the company’s stock worth $2,931,000 after purchasing an additional 17,632 shares during the same period. Finally, Silvercrest Asset Management Group LLC increased its position in Northern Oil and Gas by 1.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock valued at $29,747,000 after acquiring an additional 12,814 shares during the period. 98.80% of the shares are currently 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 that occurred on Monday, July 8. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the CEO now owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction that occurred on Monday, July 1. The shares were sold at an average price of $37.88, for a total transaction 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 transaction was disclosed in a filing with the SEC, accessible through this link. Also, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, July 8. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the sale, the CEO now directly owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The disclosure of this sale can be found here. Insiders have sold a total of 6,534 shares of the company’s stock during the last quarter, valued at $252,144. 2.80% of the shares are currently owned by insiders.
Analysts set new price targets
NOG has been the subject of several research analyst reports. Piper Sandler raised their price target on Northern Oil and Gas from $42.00 to $43.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Bank of America raised their price target on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Truist Financial raised their price target on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com lowered Northern Oil and Gas from “hold” to “sell” in a research report on Thursday, August 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, July 3. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating, and one has given a strong buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.90.
Read our latest research report on Northern Oil and Gas
Northern Oil and Gas shares lose 0.4%
Northern Oil and Gas stock opened at $37.96 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 0.96. The stock has a market cap of $3.84 billion, a P/E ratio of 6.15 and a beta of 1.79. The stock’s 50-day moving average is $38.69 and its 200-day moving average is $38.36.
Northern Oil and Gas (NYSE:NOG – Get Free Report) last released its quarterly earnings results on Tuesday, July 30. The company reported earnings per share (EPS) of $1.46 for the quarter, beating the consensus estimate of $1.20 by $0.26. The company had revenue of $560.80 million for the quarter, compared to analyst estimates 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 quarterly revenue grew 17.7% compared to the year-ago quarter. In the year-ago quarter, the company reported earnings per share of $1.49. On average, sell-side analysts expect that Northern Oil and Gas, Inc. will report earnings per share of $5.12 for the current fiscal year.
Northern Oil and Gas increases dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will receive a dividend of $0.42 per share. The ex-dividend date is Friday, September 27th. This represents a dividend of $1.68 on an annualized basis and a dividend yield of 4.43%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 27.23%.
Northern Oil and Gas Company Profile
(Free report)
Northern Oil and Gas, Inc., an independent energy company, is engaged in the acquisition, exploration, exploitation, development and production of crude oil and natural gas properties in the United States. It holds interests primarily in the Williston Basin, the Appalachian Basin and the Permian Basin in the United States.
See also
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