Northern Oil and Gas, Inc. (NYSE:NOG) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 155.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,496 shares of the company’s stock after acquiring an additional 10,039 shares during the period. Nisa Investment Advisors LLC’s holdings in Northern Oil and Gas were worth $506,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in shares of Northern Oil and Gas in the fourth quarter valued at approximately $29,000. Byrne Asset Management LLC grew its position 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 last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position 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 purchasing an additional 835 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Northern Oil and Gas in the first quarter valued at approximately $54,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Northern Oil and Gas by 187.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,347 shares of the company’s stock valued at $87,000 after purchasing an additional 1,530 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Price Performance

NOG opened at $26.96 on Thursday. The company’s 50 day simple moving average is $29.04 and its 200 day simple moving average is $30.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 0.92. Northern Oil and Gas, Inc. has a 1 year low of $19.88 and a 1 year high of $44.31. The stock has a market capitalization of $2.66 billion, a PE ratio of 4.20 and a beta of 1.50.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.21. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. The business had revenue of $602.10 million for the quarter, compared to analysts’ expectations of $568.87 million. During the same period last year, the company earned $1.28 earnings per share. The company’s quarterly revenue was up 51.9% on a year-over-year basis. As a group, sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS 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. Stockholders of record on Friday, June 27th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.68%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas’s dividend payout ratio is currently 28.04%.

Wall Street Analyst Weigh In

Several analysts have recently commented on NOG shares. Citigroup increased their price target on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Morgan Stanley lowered 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 report on Thursday, March 27th. Piper Sandler lowered 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 report on Tuesday, May 13th. Mizuho cut their price objective on shares of Northern Oil and Gas from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. One equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.67.

Northern Oil and Gas Company 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.