Cambridge Investment Research Advisors Inc. Reduces Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Cambridge Investment Research Advisors Inc. cut its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 6.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,496 shares of the company’s stock after selling 992 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Northern Oil and Gas were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of NOG. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Northern Oil and Gas by 4.9% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 25,213 shares of the company’s stock worth $760,000 after acquiring an additional 1,167 shares in the last quarter. State of Alaska Department of Revenue increased its position in Northern Oil and Gas by 25.3% during the first quarter. State of Alaska Department of Revenue now owns 97,025 shares of the company’s stock worth $2,932,000 after buying an additional 19,586 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Northern Oil and Gas in the 1st quarter valued at approximately $54,000. Byrne Asset Management LLC increased its holdings in shares of Northern Oil and Gas by 54.9% in the first quarter. Byrne Asset Management LLC now owns 1,363 shares of the company’s stock valued at $41,000 after purchasing an additional 483 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Northern Oil and Gas by 26.7% in the first quarter. Fifth Third Bancorp now owns 2,480 shares of the company’s stock valued at $75,000 after buying an additional 523 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Up 0.2%

NOG opened at $30.79 on Friday. Northern Oil and Gas, Inc. has a 12 month low of $19.88 and a 12 month high of $44.31. The stock has a market cap of $3.04 billion, a P/E ratio of 4.80 and a beta of 1.50. The stock’s 50 day moving average price is $28.71 and its 200 day moving average price is $30.79. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.92.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.21. The business had revenue of $602.10 million during the quarter, compared to analyst estimates of $568.87 million. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. The company’s revenue was up 51.9% compared to the same quarter last year. During the same period last year, the company posted $1.28 EPS. As a group, research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.80 annualized dividend and a dividend yield of 5.85%. Northern Oil and Gas’s dividend payout ratio is 28.04%.

Wall Street Analyst Weigh In

A number of analysts have commented on NOG shares. Mizuho decreased their target price on Northern Oil and Gas from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Piper Sandler dropped their price target on Northern Oil and Gas from $34.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Morgan Stanley decreased their target price on Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Bank of America increased their price target on Northern Oil and Gas from $29.00 to $33.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Northern Oil and Gas 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 issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $38.89.

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.