Dana Investment Advisors Inc. Purchases Shares of 106,237 Northern Oil and Gas, Inc. $NOG

Dana Investment Advisors Inc. acquired a new position in Northern Oil and Gas, Inc. (NYSE:NOG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 106,237 shares of the company’s stock, valued at approximately $2,635,000. Dana Investment Advisors Inc. owned approximately 0.11% of Northern Oil and Gas as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DLD Asset Management LP boosted its position in Northern Oil and Gas by 42.9% during the 2nd quarter. DLD Asset Management LP now owns 25,000,000 shares of the company’s stock worth $708,750,000 after purchasing an additional 7,500,000 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of 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 purchasing an additional 103,366 shares in the last quarter. Channing Capital Management LLC boosted its position in shares of 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 buying an additional 230,899 shares during the period. Tributary Capital Management LLC boosted its position in shares of 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 worth $32,544,000 after buying an additional 779,492 shares during the period. Finally, New York State Common Retirement Fund grew its stake in shares of Northern Oil and Gas by 3.2% in the second quarter. New York State Common Retirement Fund now owns 1,127,257 shares of the company’s stock valued at $31,958,000 after buying an additional 35,105 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Wall Street Analyst Weigh In

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

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $26.53 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.10 and a quick ratio of 1.10. Northern Oil and Gas, Inc. has a 12 month low of $19.88 and a 12 month high of $32.62. The company has a fifty day moving average price of $23.66 and a two-hundred day moving average price of $23.66. The company has a market cap of $2.59 billion, a PE ratio of 14.99 and a beta of 1.01.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. Northern Oil and Gas had a net margin of 7.61% and a return on equity of 20.61%. The company had revenue of $610.18 million for the quarter, compared to the consensus estimate of $524.98 million. During the same period last year, the firm posted $1.11 EPS. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. Research analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

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. This represents a $1.80 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Monday, March 30th. Northern Oil and Gas’s payout ratio is presently 101.69%.

About Northern Oil and Gas

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.