Yousif Capital Management LLC Cuts Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Yousif Capital Management LLC lowered its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,460 shares of the company’s stock after selling 988 shares during the period. Yousif Capital Management LLC’s holdings in Northern Oil and Gas were worth $1,102,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in shares of Northern Oil and Gas by 9.1% during the fourth quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company’s stock valued at $129,000 after buying an additional 289 shares during the period. Avantax Advisory Services Inc. grew its stake in Northern Oil and Gas by 2.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company’s stock valued at $487,000 after purchasing an additional 298 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in Northern Oil and Gas by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,378 shares of the company’s stock valued at $386,000 after purchasing an additional 329 shares during the last quarter. Isthmus Partners LLC grew its stake in Northern Oil and Gas by 0.9% in the fourth quarter. Isthmus Partners LLC now owns 48,354 shares of the company’s stock valued at $1,797,000 after purchasing an additional 411 shares during the last quarter. Finally, Van Den Berg Management I Inc. grew its stake in Northern Oil and Gas by 1.2% in the fourth quarter. Van Den Berg Management I Inc. now owns 36,895 shares of the company’s stock valued at $1,371,000 after purchasing an additional 446 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Trading Down 0.9%

Shares of NOG stock opened at $31.23 on Thursday. The firm has a 50-day moving average price of $26.72 and a 200 day moving average price of $31.89. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 4.86 and a beta of 1.51. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.96.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.12 by $0.21. The company had revenue of $602.10 million during the quarter, compared to analysts’ expectations of $568.87 million. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. The firm’s revenue was up 51.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.28 EPS. Research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

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

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.76%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is 28.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Capital One Financial lowered Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Morgan Stanley dropped their price target on Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Piper Sandler dropped their price target on Northern Oil and Gas from $34.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Royal Bank Of Canada dropped their price target on Northern Oil and Gas from $40.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Monday, April 14th. Finally, Citigroup dropped their price target on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.67.

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.