SG Americas Securities LLC Purchases 351,490 Shares of Northern Oil and Gas, Inc. $NOG

SG Americas Securities LLC boosted its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 499.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 421,809 shares of the company’s stock after buying an additional 351,490 shares during the quarter. SG Americas Securities LLC owned approximately 0.43% of Northern Oil and Gas worth $9,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of Northern Oil and Gas by 55.1% during the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock valued at $1,233,000 after buying an additional 14,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Northern Oil and Gas by 3.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,334 shares of the company’s stock worth $1,763,000 after acquiring an additional 1,865 shares during the period. Jones Financial Companies Lllp increased its holdings in Northern Oil and Gas by 181.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after acquiring an additional 713 shares during the last quarter. Empowered Funds LLC raised its stake in Northern Oil and Gas by 5.0% in the 1st quarter. Empowered Funds LLC now owns 65,217 shares of the company’s stock valued at $1,972,000 after acquiring an additional 3,124 shares during the period. Finally, Intech Investment Management LLC raised its stake in 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 valued at $1,404,000 after acquiring an additional 13,690 shares during the period. 98.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NOG. Morgan Stanley set a $24.00 target price on shares of Northern Oil and Gas and gave the stock an “underweight” rating in a research report on Friday, January 23rd. Bank of America boosted their price target on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Piper Sandler upped their price target on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Thursday, January 22nd. Finally, Mizuho set a $29.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, January 21st. One equities research 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 given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.00.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $30.81 on Monday. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $32.62. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $3.00 billion, a PE ratio of 93.37 and a beta of 0.96. The firm’s 50 day simple moving average is $26.58 and its 200 day simple moving average is $24.17.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.71 by $0.12. The firm had revenue of $610.18 million during the quarter, compared to the consensus estimate of $524.98 million. Northern Oil and Gas had a net margin of 1.57% and a return on equity of 19.74%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period last year, the firm earned $1.11 EPS. As a group, analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Monday, March 30th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.8%. The ex-dividend date is Monday, March 30th. Northern Oil and Gas’s payout ratio is presently 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.