MML Investors Services LLC reduced its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG – Get Rating) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,157 shares of the company’s stock after selling 364 shares during the period. MML Investors Services LLC’s holdings in Northern Oil and Gas were worth $224,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of Northern Oil and Gas by 28.3% during the second quarter. FMR LLC now owns 5,809,993 shares of the company’s stock worth $146,761,000 after buying an additional 1,282,999 shares during the last quarter. State Street Corp raised its stake in Northern Oil and Gas by 29.0% during the 1st quarter. State Street Corp now owns 3,301,013 shares of the company’s stock valued at $93,518,000 after purchasing an additional 742,371 shares during the last quarter. Emerald Advisers LLC boosted its holdings in Northern Oil and Gas by 3,313.8% in the 3rd quarter. Emerald Advisers LLC now owns 691,302 shares of the company’s stock valued at $18,949,000 after purchasing an additional 671,052 shares during the period. Loomis Sayles & Co. L P bought a new position in shares of Northern Oil and Gas during the 1st quarter worth about $15,673,000. Finally, Macquarie Group Ltd. raised its position in shares of Northern Oil and Gas by 296.1% during the second quarter. Macquarie Group Ltd. now owns 742,364 shares of the company’s stock valued at $18,752,000 after buying an additional 554,950 shares during the last quarter. 96.41% of the stock is currently owned by institutional investors and hedge funds.
Northern Oil and Gas Trading Down 1.4 %
Shares of Northern Oil and Gas stock opened at $30.46 on Friday. The stock has a market capitalization of $2.60 billion, a P/E ratio of 3.71, a price-to-earnings-growth ratio of 1.35 and a beta of 2.04. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 2.05. The company has a 50-day simple moving average of $31.99 and a 200 day simple moving average of $32.38. Northern Oil and Gas, Inc. has a 12-month low of $21.45 and a 12-month high of $39.10.
Northern Oil and Gas Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Thursday, March 30th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 4.46%. The ex-dividend date is Wednesday, March 29th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.30. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 16.55%.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Northland Securities boosted their price target on Northern Oil and Gas from $50.00 to $60.00 in a research note on Monday, November 14th. Raymond James decreased their price target on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, February 7th. Truist Financial dropped their price objective on shares of Northern Oil and Gas from $54.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, February 7th. Royal Bank of Canada raised their price objective on shares of Northern Oil and Gas from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, November 14th. Finally, Citigroup raised their price objective on shares of Northern Oil and Gas from $36.00 to $46.00 in a report on Friday, November 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Northern Oil and Gas currently has an average rating of “Moderate Buy” and a consensus price target of $45.60.
Northern Oil and Gas Company Profile
Northern Oil & Gas, Inc engages in the acquisition, exploration, development, and production of crude oil and natural gas properties. It focuses on the Bakken and Three Forks formation within the Williston Basin in North Dakota and Montana. The company was founded on March 20, 2007 and is headquartered in Minnetonka, MN.
- Get a free copy of the StockNews.com research report on Northern Oil and Gas (NOG)
- What the SVB Financial Collapse Means for U.S. Banks
- MarketBeat Week in Review – 3/6 – 3/10
- 2 Offshore Drilling Stocks Set to Extract Big Profits
- Three Staples Stocks With Double-Digit Upside Ahead
- Can Investors Trust Consumers to Lift American Outdoor Brands?
Want to see what other hedge funds are holding NOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Oil and Gas, Inc. (NYSE:NOG – Get Rating).
Receive News & Ratings for Northern Oil and Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Oil and Gas and related companies with MarketBeat.com's FREE daily email newsletter.