GAMMA Investing LLC Buys 5,328 Shares of Northern Oil and Gas, Inc. $NOG

GAMMA Investing LLC raised its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 350.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,848 shares of the company’s stock after purchasing an additional 5,328 shares during the quarter. GAMMA Investing LLC’s holdings in Northern Oil and Gas were worth $194,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NOG. Nuveen LLC acquired a new position in Northern Oil and Gas in the 1st quarter valued at approximately $36,288,000. Dimensional Fund Advisors LP increased its position in shares of Northern Oil and Gas by 30.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company’s stock valued at $129,939,000 after purchasing an additional 1,001,493 shares during the period. BW Gestao de Investimentos Ltda. acquired a new position in shares of Northern Oil and Gas in the first quarter valued at $14,137,000. American Century Companies Inc. lifted its position in Northern Oil and Gas by 6.4% in the first quarter. American Century Companies Inc. now owns 6,953,377 shares of the company’s stock worth $210,201,000 after purchasing an additional 415,781 shares during the period. Finally, Woodline Partners LP lifted its position in Northern Oil and Gas by 791.9% in the first quarter. Woodline Partners LP now owns 239,245 shares of the company’s stock worth $7,232,000 after purchasing an additional 212,420 shares during the period. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Up 2.8%

NYSE NOG opened at $27.70 on Monday. The stock’s 50 day simple moving average is $25.86 and its 200 day simple moving average is $27.02. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31. The firm has a market cap of $2.70 billion, a PE ratio of 4.57 and a beta of 1.67. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.50. The firm had revenue of $706.81 million during the quarter, compared to the consensus estimate of $555.54 million. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%.The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. As a group, sell-side analysts forecast 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 business also recently declared 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 yield of 6.5%. Northern Oil and Gas’s dividend payout ratio is 29.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NOG shares. William Blair started coverage on shares of Northern Oil and Gas in a report on Monday, August 25th. They set an “outperform” rating for the company. Citigroup raised their price target on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 price objective (down from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. Mizuho dropped their target price on Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, September 15th. Finally, 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 research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Northern Oil and Gas presently has an average 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.