American Century Companies Inc. Sells 416,328 Shares of Northern Oil and Gas, Inc. $NOG

American Century Companies Inc. cut its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,226,100 shares of the company’s stock after selling 416,328 shares during the period. American Century Companies Inc. owned about 8.43% of Northern Oil and Gas worth $204,007,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Northern Oil and Gas by 55.1% in the first quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock valued at $1,233,000 after acquiring an additional 14,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Northern Oil and Gas by 3.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,334 shares of the company’s stock valued at $1,763,000 after acquiring an additional 1,865 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after acquiring an additional 713 shares during the last quarter. Empowered Funds LLC grew its holdings in Northern Oil and Gas by 5.0% during the 1st quarter. Empowered Funds LLC now owns 65,217 shares of the company’s stock worth $1,972,000 after acquiring an additional 3,124 shares during the period. Finally, Intech Investment Management LLC raised its position in shares of Northern Oil and Gas by 41.8% in the 1st quarter. Intech Investment Management LLC now owns 46,453 shares of the company’s stock worth $1,404,000 after acquiring an additional 13,690 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank Of Canada cut their target price on Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 20th. Morgan Stanley set a $24.00 price target on Northern Oil and Gas and gave the stock an “underweight” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Thursday, January 22nd. Finally, Mizuho set a $29.00 target price on Northern Oil and Gas in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Northern Oil and Gas has an average rating of “Hold” and a consensus price target of $29.29.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock opened at $27.64 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.05. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 83.76 and a beta of 1.01. Northern Oil and Gas, Inc. has a 12 month low of $19.88 and a 12 month high of $32.62. The business’s 50 day simple moving average is $23.87 and its 200 day simple moving average is $23.70.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.71 by $0.12. Northern Oil and Gas had a net margin of 1.57% and a return on equity of 19.27%. The company had revenue of $610.18 million during the quarter, compared to the consensus estimate of $524.98 million. During the same period last year, the firm earned $1.11 EPS. Northern Oil and Gas’s revenue for the quarter was up 18.5% on a year-over-year basis. Sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, March 30th will be paid a $0.45 dividend. The ex-dividend date is Monday, March 30th. This represents a $1.80 annualized dividend and a yield of 6.5%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 545.45%.

Northern Oil and Gas Company 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.