Northern Oil and Gas, Inc. $NOG Position Increased by Citigroup Inc.

Citigroup Inc. raised its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 51.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 646,894 shares of the company’s stock after purchasing an additional 220,458 shares during the quarter. Citigroup Inc. owned approximately 0.66% of Northern Oil and Gas worth $16,043,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. First Horizon Corp acquired a new stake in shares of Northern Oil and Gas during the 3rd quarter valued at about $27,000. Laurel Wealth Advisors LLC raised its position in Northern Oil and Gas by 2,736.1% during the second quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock valued at $29,000 after acquiring an additional 985 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Northern Oil and Gas by 181.0% in 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. EverSource Wealth Advisors LLC grew its position in Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock worth $43,000 after acquiring an additional 1,228 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Northern Oil and Gas by 85.7% in the second quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock worth $44,000 after acquiring an additional 702 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Trading Up 5.3%

Shares of NYSE:NOG opened at $27.64 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.10 and a current ratio of 1.10. The stock’s 50-day moving average is $23.87 and its 200-day moving average is $23.71. The company has a market cap of $2.70 billion, a P/E ratio of 83.76 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 $32.62.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Wednesday, February 25th. The company reported $0.83 earnings per share 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 return on equity of 19.27% and a net margin of 1.57%.The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 EPS. Equities research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share 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. Investors of record on Monday, March 30th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $1.80 dividend on an annualized basis and a yield of 6.5%. Northern Oil and Gas’s payout ratio is 545.45%.

Analyst Ratings Changes

A number of research firms have recently weighed in on NOG. Royal Bank Of Canada cut their price target on shares of Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating on the stock in a 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 research report on Friday, January 23rd. Weiss Ratings reissued 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 Northern Oil and Gas in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.29.

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.