Geneos Wealth Management Inc. Acquires 761 Shares of Northern Oil and Gas, Inc. $NOG

Geneos Wealth Management Inc. increased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 11.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,361 shares of the company’s stock after purchasing an additional 761 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Northern Oil and Gas were worth $223,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Pinnacle Holdings LLC bought a new position in Northern Oil and Gas in the 1st quarter worth about $28,000. Signaturefd LLC increased its holdings in shares of Northern Oil and Gas by 60.0% during the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company’s stock valued at $33,000 after purchasing an additional 405 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after buying an additional 713 shares in the last quarter. Byrne Asset Management LLC increased its position in shares of Northern Oil and Gas by 54.9% during the first quarter. Byrne Asset Management LLC now owns 1,363 shares of the company’s stock worth $41,000 after purchasing an additional 483 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted 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. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Trading Down 1.9%

NOG stock opened at $24.95 on Tuesday. 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 $2.44 billion, a PE ratio of 4.12 and a beta of 1.67. The company’s 50-day simple moving average is $26.38 and its 200 day simple moving average is $27.12. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.50. The business had revenue of $706.81 million for the quarter, compared to analysts’ expectations of $555.54 million. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. As a group, sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, September 29th. This represents a $1.80 annualized dividend and a dividend yield of 7.2%. Northern Oil and Gas’s dividend payout ratio is presently 29.70%.

Wall Street Analysts Forecast Growth

NOG has been the topic of several recent research reports. Mizuho cut their price target on Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday. William Blair started coverage on shares of Northern Oil and Gas in a report on Monday, August 25th. They issued an “outperform” rating on the stock. Piper Sandler restated a “neutral” rating and set a $25.00 target price (down previously from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. Morgan Stanley cut Northern Oil and Gas from a “positive” rating to an “underweight” rating and decreased their price target for the stock from $29.00 to $27.00 in a report on Monday, August 18th. Finally, Royal Bank Of Canada lowered their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.44.

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.