Northern Oil and Gas, Inc. (NYSE:NOG) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 2,067.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,950 shares of the company’s stock after buying an additional 43,830 shares during the quarter. GAMMA Investing LLC’s holdings in Northern Oil and Gas were worth $1,520,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Northern Oil and Gas by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company’s stock worth $418,916,000 after buying an additional 166,501 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Northern Oil and Gas by 3.9% during the 4th quarter. American Century Companies Inc. now owns 6,537,596 shares of the company’s stock valued at $242,937,000 after purchasing an additional 243,531 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Northern Oil and Gas by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,296,886 shares of the company’s stock valued at $122,507,000 after purchasing an additional 68,631 shares in the last quarter. Channing Capital Management LLC increased its holdings in shares of Northern Oil and Gas by 26.8% during the 4th quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company’s stock valued at $65,648,000 after purchasing an additional 373,917 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Northern Oil and Gas by 9.2% during the 4th quarter. Northern Trust Corp now owns 1,246,573 shares of the company’s stock valued at $46,323,000 after purchasing an additional 104,854 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada cut their target price on shares of Northern Oil and Gas from $40.00 to $34.00 and set a “sector perform” rating for the company in a report on Monday, April 14th. Raymond James reaffirmed a “strong-buy” rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Capital One Financial lowered shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Citigroup cut their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Finally, Mizuho cut their price target on shares of Northern Oil and Gas from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.67.

Northern Oil and Gas Trading Up 3.4%

NYSE NOG opened at $32.21 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The firm has a market cap of $3.18 billion, a PE ratio of 6.27 and a beta of 1.51. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31. The firm’s fifty day moving average is $26.24 and its two-hundred day moving average is $32.06.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.21. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The business had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. During the same period in the previous year, the business posted $1.28 earnings per share. The business’s revenue was up 51.9% compared to the same quarter last year. Analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, June 27th. This represents a $1.80 annualized dividend and a yield of 5.59%. Northern Oil and Gas’s payout ratio is currently 28.04%.

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.