Janney Montgomery Scott LLC Sells 912 Shares of Northern Oil and Gas, Inc. $NOG

Janney Montgomery Scott LLC cut its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 9.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,485 shares of the company’s stock after selling 912 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Northern Oil and Gas were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC boosted its position in shares of Northern Oil and Gas by 365.5% during the second quarter. Signaturefd LLC now owns 5,027 shares of the company’s stock worth $143,000 after purchasing an additional 3,947 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Northern Oil and Gas by 3.6% during the second quarter. State of Alaska Department of Revenue now owns 100,518 shares of the company’s stock worth $2,848,000 after purchasing an additional 3,493 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Northern Oil and Gas by 350.5% during the second quarter. GAMMA Investing LLC now owns 6,848 shares of the company’s stock worth $194,000 after purchasing an additional 5,328 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Northern Oil and Gas by 21.1% during the second quarter. Wedge Capital Management L L P NC now owns 40,026 shares of the company’s stock worth $1,135,000 after purchasing an additional 6,985 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Northern Oil and Gas by 200.3% during the second quarter. UMB Bank n.a. now owns 955 shares of the company’s stock worth $27,000 after purchasing an additional 637 shares in the last quarter. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Stock Down 1.1%

Shares of NOG stock opened at $21.35 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. Northern Oil and Gas, Inc. has a 1 year low of $19.88 and a 1 year high of $44.31. The firm’s fifty day moving average price is $24.81 and its two-hundred day moving average price is $26.34. The firm has a market capitalization of $2.08 billion, a P/E ratio of 3.52 and a beta of 1.61.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Monday, March 6th. The company reported $1.06 earnings per share (EPS) for the quarter. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The firm had revenue of $319.19 million for the quarter. On average, equities analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm 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 $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.4%. The ex-dividend date is Monday, September 29th. Northern Oil and Gas’s payout ratio is presently 29.70%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NOG. Citigroup reduced their price target on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday. Royal Bank Of Canada reduced 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. William Blair began coverage on shares of Northern Oil and Gas in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Mizuho reduced their price target on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, September 15th. Finally, Piper Sandler restated 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Northern Oil and Gas presently has a consensus rating of “Hold” and a consensus price target of $33.00.

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.