Creative Planning Raises Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Creative Planning increased its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 18.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,994 shares of the company’s stock after buying an additional 4,282 shares during the quarter. Creative Planning’s holdings in Northern Oil and Gas were worth $991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in NOG. Dimensional Fund Advisors LP raised its position in shares of Northern Oil and Gas by 45.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after buying an additional 789,985 shares during the period. American Century Companies Inc. increased its holdings in Northern Oil and Gas by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after purchasing an additional 552,645 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Northern Oil and Gas by 13.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock valued at $69,430,000 after purchasing an additional 212,030 shares in the last quarter. Jennison Associates LLC acquired a new stake in Northern Oil and Gas in the 1st quarter valued at $7,780,000. Finally, Oxbow Advisors LLC acquired a new stake in Northern Oil and Gas in the 1st quarter valued at $5,652,000. 98.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Bank of America increased their price target on Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Mizuho assumed coverage on Northern Oil and Gas in a report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price target for the company. Morgan Stanley lowered their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Jefferies Financial Group started coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target for the company. Finally, Piper Sandler lowered their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.

Northern Oil and Gas Stock Down 1.2 %

NYSE:NOG opened at $35.81 on Friday. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 6.34 and a beta of 1.81. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $43.80. The stock has a 50-day simple moving average of $37.24 and a 200 day simple moving average of $38.71. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.26. The business had revenue of $560.80 million during 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 period last year, the firm earned $1.49 earnings per share. Sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.4 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were paid a $0.42 dividend. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Friday, September 27th. Northern Oil and Gas’s payout ratio is presently 29.73%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of Northern Oil and Gas stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 105,713 shares in the company, valued at $3,727,440.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, President Adam A. Dirlam sold 2,508 shares of the business’s stock in a transaction that occurred 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 completion of 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Erik J. Romslo sold 1,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 105,713 shares of the company’s stock, valued at $3,727,440.38. This trade represents 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 over the last ninety days. Company insiders own 2.80% of the company’s stock.

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.