Cetera Investment Advisers Buys 1,735 Shares of Northern Oil and Gas, Inc. $NOG

Cetera Investment Advisers lifted its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 12.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 15,484 shares of the company’s stock after acquiring an additional 1,735 shares during the period. Cetera Investment Advisers’ holdings in Northern Oil and Gas were worth $468,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its position in shares of Northern Oil and Gas by 25.3% in the first quarter. State of Alaska Department of Revenue now owns 97,025 shares of the company’s stock valued at $2,932,000 after acquiring an additional 19,586 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Northern Oil and Gas by 2.6% in the first quarter. Principal Financial Group Inc. now owns 494,508 shares of the company’s stock worth $14,949,000 after buying an additional 12,711 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of Northern Oil and Gas by 1.9% in the first quarter. New York State Common Retirement Fund now owns 1,092,152 shares of the company’s stock worth $33,016,000 after buying an additional 20,186 shares in the last quarter. Woodline Partners LP bought a new position in Northern Oil and Gas during the fourth quarter valued at approximately $997,000. Finally, GAMMA Investing LLC lifted its position in Northern Oil and Gas by 2,067.5% during the first quarter. GAMMA Investing LLC now owns 45,950 shares of the company’s stock valued at $1,520,000 after purchasing an additional 43,830 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Down 1.6%

NYSE:NOG opened at $24.42 on Monday. The company has a market cap of $2.38 billion, a PE ratio of 4.03 and a beta of 1.55. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. The company’s 50 day moving average is $28.48 and its two-hundred day moving average is $28.51.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.50. The company had revenue of $706.81 million for 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%. Northern Oil and Gas’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. Analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.4%. The ex-dividend date of this dividend is Monday, September 29th. Northern Oil and Gas’s payout ratio is currently 29.70%.

Analysts Set New Price Targets

NOG has been the subject of a number of analyst reports. Royal Bank Of Canada reduced 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 note on Monday, July 14th. Mizuho lowered their target price on shares of Northern Oil and Gas from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, July 16th. Piper Sandler restated a “neutral” rating and issued a $25.00 target price (down previously from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. Citigroup raised 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. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.11.

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.