Swiss National Bank Reduces Stake in Northern Oil and Gas, Inc. $NOG

Swiss National Bank reduced its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 183,700 shares of the company’s stock after selling 3,400 shares during the quarter. Swiss National Bank owned 0.19% of Northern Oil and Gas worth $5,553,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Headlands Technologies LLC grew its stake in shares of Northern Oil and Gas by 124.6% during the 1st quarter. Headlands Technologies LLC now owns 1,743 shares of the company’s stock valued at $53,000 after acquiring an additional 967 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Northern Oil and Gas by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,141,754 shares of the company’s stock worth $34,515,000 after purchasing an additional 82,855 shares in the last quarter. New Age Alpha Advisors LLC lifted its holdings in Northern Oil and Gas by 71.3% in the 1st quarter. New Age Alpha Advisors LLC now owns 10,082 shares of the company’s stock worth $305,000 after purchasing an additional 4,195 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in Northern Oil and Gas by 2.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,636,938 shares of the company’s stock worth $49,485,000 after purchasing an additional 36,507 shares in the last quarter. Finally, Vestcor Inc purchased a new position in Northern Oil and Gas in the 1st quarter worth approximately $212,000. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Price Performance

Shares of NOG stock opened at $23.79 on Tuesday. 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 company has a market cap of $2.32 billion, a P/E ratio of 3.93 and a beta of 1.55. The stock’s 50-day moving average is $28.36 and its 200 day moving average is $28.42. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $44.31.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Thursday, July 31st. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.50. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%. The firm had revenue of $706.81 million during the quarter, compared to the consensus estimate of $555.54 million. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s revenue was up 26.0% compared to the same quarter last year. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend is Monday, September 29th. Northern Oil and Gas’s dividend payout ratio is currently 29.70%.

Analyst Ratings Changes

A number of research firms recently commented on NOG. Citigroup boosted their price target 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. Morgan Stanley lowered Northern Oil and Gas from a “positive” rating to an “underweight” rating and decreased their price target for the company from $29.00 to $27.00 in a report on Monday. Royal Bank Of Canada reduced 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 note on Monday, July 14th. Bank of America increased their target price on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $25.00 target price (down previously from $31.00) on shares of Northern Oil and Gas in a research note on Monday, August 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.89.

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.