Northern Oil and Gas, Inc. $NOG Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,263,943 shares of the company’s stock after selling 63,231 shares during the period. Geode Capital Management LLC owned about 2.32% of Northern Oil and Gas worth $64,195,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. American Century Companies Inc. grew its stake in shares of Northern Oil and Gas by 6.4% during the 1st 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. Charles Schwab Investment Management Inc. lifted its stake in shares of Northern Oil and Gas by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,141,754 shares of the company’s stock valued at $34,515,000 after purchasing an additional 82,855 shares during the period. Motley Fool Asset Management LLC boosted its holdings in Northern Oil and Gas by 21.2% during the first quarter. Motley Fool Asset Management LLC now owns 85,483 shares of the company’s stock worth $2,584,000 after buying an additional 14,945 shares in the last quarter. Public Sector Pension Investment Board grew its position in Northern Oil and Gas by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 314,890 shares of the company’s stock worth $9,519,000 after buying an additional 67,491 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in Northern Oil and Gas by 45.7% in the first quarter. MetLife Investment Management LLC now owns 87,154 shares of the company’s stock valued at $2,635,000 after buying an additional 27,336 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on NOG shares. Piper Sandler reissued a “neutral” rating and set a $25.00 price target (down previously from $31.00) on shares of Northern Oil and Gas in a research note on Monday, August 4th. Mizuho reduced their price objective 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. Citigroup lowered their target price on Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, October 20th. William Blair assumed coverage on Northern Oil and Gas in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $26.00 price objective (down from $27.00) on shares of Northern Oil and Gas in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.00.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $21.45 on Monday. The business’s fifty day moving average price is $23.20 and its two-hundred day moving average price is $26.04. The stock has a market cap of $2.09 billion, a PE ratio of 3.54 and a beta of 1.48. 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, Inc. has a one year low of $19.88 and a one year high of $44.31.

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

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, December 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date is Tuesday, December 30th. Northern Oil and Gas’s dividend payout ratio is 101.69%.

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.