Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 9.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,545 shares of the company’s stock after selling 1,937 shares during the period. PNC Financial Services Group Inc.’s holdings in Northern Oil and Gas were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC lifted its stake in Northern Oil and Gas by 60.0% during the first quarter. Signaturefd LLC now owns 1,080 shares of the company’s stock valued at $33,000 after purchasing an additional 405 shares during the last quarter. 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 buying an additional 483 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Northern Oil and Gas by 127.7% during the 1st 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 during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Northern Oil and Gas during the 1st quarter worth $54,000. Finally, Fifth Third Bancorp boosted its stake in shares of Northern Oil and Gas by 26.7% during the 1st quarter. Fifth Third Bancorp now owns 2,480 shares of the company’s stock worth $75,000 after acquiring an additional 523 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

NYSE NOG opened at $24.87 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 4.10 and a beta of 1.55. The company has a 50 day simple moving average of $28.62 and a 200-day simple moving average of $28.81. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.50. The company had revenue of $706.81 million during the quarter, compared to the consensus estimate of $555.54 million. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The company’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 EPS. Equities research analysts predict 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 company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a $0.45 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 7.2%. Northern Oil and Gas’s payout ratio is 29.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada cut their target price on Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Monday, July 14th. Citigroup boosted their price objective on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Bank of America upped their price objective on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Raymond James Financial reissued a “strong-buy” rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Finally, Piper Sandler restated a “neutral” rating and issued a $25.00 price target (down previously from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Northern Oil and Gas currently has an average rating of “Moderate Buy” and an average price target of $38.11.

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.