Farther Finance Advisors LLC Cuts Stock Holdings in Northern Oil and Gas, Inc. $NOG

Farther Finance Advisors LLC reduced its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 63.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,357 shares of the company’s stock after selling 2,391 shares during the period. Farther Finance Advisors LLC’s holdings in Northern Oil and Gas were worth $38,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC increased its holdings in Northern Oil and Gas by 21.1% in the second quarter. Wedge Capital Management L L P NC now owns 40,026 shares of the company’s stock valued at $1,135,000 after buying an additional 6,985 shares in the last quarter. UMB Bank n.a. increased its holdings in Northern Oil and Gas by 200.3% in the second quarter. UMB Bank n.a. now owns 955 shares of the company’s stock valued at $27,000 after buying an additional 637 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in Northern Oil and Gas in the second quarter valued at about $253,000. Harbor Capital Advisors Inc. increased its holdings in Northern Oil and Gas by 3.3% in the second quarter. Harbor Capital Advisors Inc. now owns 166,818 shares of the company’s stock valued at $4,729,000 after buying an additional 5,269 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Northern Oil and Gas by 133.3% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company’s stock valued at $27,000 after buying an additional 545 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $24.89 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The company has a market cap of $2.43 billion, a P/E ratio of 4.11 and a beta of 1.61. Northern Oil and Gas, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $44.31. The firm’s 50 day moving average is $25.39 and its two-hundred day moving average is $26.79.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 earnings per share. Analysts expect 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 declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 29.70%.

Wall Street Analysts Forecast Growth

NOG has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Saturday, September 27th. William Blair assumed coverage on shares of Northern Oil and Gas in a research report on Monday, August 25th. They issued an “outperform” rating on the stock. Royal Bank Of Canada lowered their price target on shares of 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. Morgan Stanley lowered shares of Northern Oil and Gas from a “positive” rating to an “underweight” rating and lowered their price target for the company from $29.00 to $27.00 in a research report on Monday, August 18th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $25.00 price target (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Northern Oil and Gas presently has an average rating of “Hold” and a consensus target price of $34.38.

About Northern Oil and Gas

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.