AXQ Capital LP Invests $514,000 in Northern Oil and Gas, Inc. $NOG

AXQ Capital LP bought a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,725 shares of the company’s stock, valued at approximately $514,000.

Other institutional investors have also bought and sold shares of the company. Tributary Capital Management LLC lifted its stake in shares of Northern Oil and Gas by 146.3% in the 3rd quarter. Tributary Capital Management LLC now owns 1,312,256 shares of the company’s stock valued at $32,544,000 after purchasing an additional 779,492 shares during the period. Channing Capital Management LLC increased its holdings in Northern Oil and Gas by 15.7% in the third quarter. Channing Capital Management LLC now owns 1,702,177 shares of the company’s stock worth $42,214,000 after purchasing an additional 230,899 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in Northern Oil and Gas by 390.1% in the third quarter. Campbell & CO Investment Adviser LLC now owns 72,721 shares of the company’s stock worth $1,803,000 after purchasing an additional 57,882 shares in the last quarter. 12th Street Asset Management Company LLC boosted its holdings in shares of Northern Oil and Gas by 20.0% during the 3rd quarter. 12th Street Asset Management Company LLC now owns 240,730 shares of the company’s stock worth $5,970,000 after buying an additional 40,181 shares in the last quarter. Finally, Register Financial Advisors LLC boosted its holdings in shares of Northern Oil and Gas by 364.4% during the 3rd quarter. Register Financial Advisors LLC now owns 104,547 shares of the company’s stock worth $2,593,000 after buying an additional 82,033 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley set a $24.00 target price on shares of Northern Oil and Gas and gave the company an “underweight” rating in a research 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. Royal Bank Of Canada cut their price objective on shares of 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. Finally, Mizuho set a $29.00 target price on Northern Oil and Gas in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $29.29.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $27.18 on Wednesday. The firm has a market capitalization of $2.65 billion, a P/E ratio of 15.36 and a beta of 1.01. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $33.29. The stock has a 50 day moving average price of $23.58 and a two-hundred day moving average price of $23.64. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.10 and a current ratio of 1.10.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, March 30th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, March 30th. This represents a $1.80 annualized dividend and a yield of 6.6%. Northern Oil and Gas’s dividend payout ratio (DPR) is 101.69%.

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.