Fifth Third Bancorp Buys 523 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Fifth Third Bancorp grew its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 26.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,480 shares of the company’s stock after purchasing an additional 523 shares during the quarter. Fifth Third Bancorp’s holdings in Northern Oil and Gas were worth $75,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NOG. Headlands Technologies LLC bought a new position in shares of Northern Oil and Gas in the fourth quarter valued at about $29,000. Blue Trust Inc. grew its stake in shares of Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after acquiring an additional 801 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Northern Oil and Gas by 127.7% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company’s stock valued at $45,000 after acquiring an additional 835 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Northern Oil and Gas in the fourth quarter valued at about $66,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Northern Oil and Gas by 297.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company’s stock valued at $77,000 after acquiring an additional 1,570 shares in the last quarter. 98.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NOG shares. Raymond James Financial restated a “strong-buy” rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Royal Bank Of Canada decreased their price target on shares of 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. Mizuho decreased their price target on shares of Northern Oil and Gas from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley decreased their price target on shares of 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. Finally, Piper Sandler decreased their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Northern Oil and Gas has an average rating of “Hold” and a consensus target price of $39.67.

Northern Oil and Gas Trading Down 0.1%

Shares of Northern Oil and Gas stock opened at $31.24 on Friday. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 4.87 and a beta of 1.51. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.96. Northern Oil and Gas, Inc. has a 12-month low of $19.88 and a 12-month high of $44.31. The firm’s 50-day moving average price is $27.09 and its two-hundred day moving average price is $31.72.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data 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. The firm had revenue of $602.10 million for the quarter, compared to the consensus estimate of $568.87 million. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. The business’s revenue for the quarter was up 51.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 earnings per share. On average, analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

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

Northern Oil and Gas declared that its board has approved a share repurchase program on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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.