Campbell & CO Investment Adviser LLC Buys 57,882 Shares of Northern Oil and Gas, Inc. $NOG

Campbell & CO Investment Adviser LLC increased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 390.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,721 shares of the company’s stock after purchasing an additional 57,882 shares during the quarter. Campbell & CO Investment Adviser LLC owned about 0.07% of Northern Oil and Gas worth $1,803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. DLD Asset Management LP lifted its stake in shares of Northern Oil and Gas by 42.9% during the second quarter. DLD Asset Management LP now owns 25,000,000 shares of the company’s stock valued at $708,750,000 after acquiring an additional 7,500,000 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Northern Oil and Gas by 25.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,951,505 shares of the company’s stock worth $56,867,000 after buying an additional 397,128 shares during the period. Westfield Capital Management Co. LP lifted its holdings in Northern Oil and Gas by 6.3% during the second quarter. Westfield Capital Management Co. LP now owns 1,740,304 shares of the company’s stock worth $49,338,000 after acquiring an additional 103,366 shares in the last quarter. Tributary Capital Management LLC grew its stake in Northern Oil and Gas by 146.3% in the third quarter. Tributary Capital Management LLC now owns 1,312,256 shares of the company’s stock valued at $32,544,000 after acquiring an additional 779,492 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of Northern Oil and Gas by 3.2% during the second quarter. New York State Common Retirement Fund now owns 1,127,257 shares of the company’s stock worth $31,958,000 after purchasing an additional 35,105 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Mizuho upped their target price on shares of Northern Oil and Gas from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Wednesday, October 8th. Citigroup decreased their price objective on Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, October 20th. Finally, Morgan Stanley restated an “underweight” rating and issued a $26.00 target price (down previously from $27.00) on shares of Northern Oil and Gas in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Northern Oil and Gas currently has a consensus rating of “Hold” and an average target price of $30.14.

Northern Oil and Gas Stock Down 1.4%

NOG stock opened at $22.25 on Friday. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $42.22. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 12.57 and a beta of 0.98. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.05. The business has a 50 day moving average price of $22.25 and a two-hundred day moving average price of $24.23.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Thursday, November 6th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.21. Northern Oil and Gas had a net margin of 7.61% and a return on equity of 20.61%. The business had revenue of $556.64 million during the quarter, compared to analysts’ expectations of $528.36 million. During the same period last year, the business earned $1.40 earnings per share. The firm’s revenue was down 26.1% on a year-over-year basis. Analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders 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 dividend yield of 8.1%. The ex-dividend date of this dividend is Tuesday, December 30th. Northern Oil and Gas’s dividend payout ratio is presently 101.69%.

Northern Oil and Gas Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.