Envestnet Asset Management Inc. Acquires 1,396 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Envestnet Asset Management Inc. lifted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 396,980 shares of the company’s stock after purchasing an additional 1,396 shares during the quarter. Envestnet Asset Management Inc. owned 0.40% of Northern Oil and Gas worth $12,001,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Raymond James Financial Inc. acquired a new position in Northern Oil and Gas in the 4th quarter worth $21,691,000. American Century Companies Inc. lifted its holdings in shares of Northern Oil and Gas by 3.9% in the fourth 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. Natixis acquired a new position in shares of Northern Oil and Gas during the fourth quarter worth about $7,503,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Northern Oil and Gas by 12.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,554,377 shares of the company’s stock worth $46,429,000 after buying an additional 173,092 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Northern Oil and Gas in the 4th quarter valued at approximately $6,423,000. Institutional investors own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NOG. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Citigroup boosted their target price on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Morgan Stanley dropped 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. Royal Bank Of Canada decreased their price objective on shares of Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Monday, July 14th. Finally, Mizuho lowered their price objective on shares of Northern Oil and Gas from $33.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.78.

Northern Oil and Gas Stock Down 1.1%

Shares of NYSE:NOG opened at $27.24 on Friday. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31. The company has a market capitalization of $2.69 billion, a PE ratio of 4.24 and a beta of 1.50. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 0.92. The company has a fifty day moving average of $29.08 and a 200-day moving average of $30.41.

Northern Oil and Gas (NYSE:NOG) last announced 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. 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%. Northern Oil and Gas’s revenue for the quarter was up 51.9% compared to the same quarter last year. During the same period last year, the company earned $1.28 EPS. On average, equities analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.61%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is 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.