Dimensional Fund Advisors LP Acquires 235,869 Shares of Northern Oil and Gas, Inc. $NOG

Dimensional Fund Advisors LP increased its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 5.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,941,662 shares of the company’s stock after buying an additional 235,869 shares during the period. Dimensional Fund Advisors LP owned 5.06% of Northern Oil and Gas worth $122,563,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Laurel Wealth Advisors LLC lifted its position in shares of 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 worth $29,000 after acquiring an additional 985 shares in the last quarter. First Horizon Corp bought a new position in shares of Northern Oil and Gas in the third quarter worth $27,000. Jones Financial Companies Lllp grew its position in shares of 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 purchasing an additional 713 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 valued at $43,000 after purchasing an additional 1,228 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Northern Oil and Gas by 85.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock valued at $44,000 after purchasing an additional 702 shares during the period. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on NOG. Piper Sandler raised their target price on Northern Oil and Gas from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Morgan Stanley set a $24.00 price target on Northern Oil and Gas and gave the company an “underweight” rating in a research report on Friday, January 23rd. Royal Bank Of Canada lowered 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. Citigroup raised their price objective on shares of Northern Oil and Gas from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday. 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 issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Northern Oil and Gas presently has an average rating of “Hold” and an average target price of $30.43.

Northern Oil and Gas Trading Up 3.8%

Shares of NOG stock opened at $28.58 on Thursday. The company has a market capitalization of $2.78 billion, a PE ratio of 86.59 and a beta of 0.96. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $32.62. The business’s fifty day moving average is $24.93 and its 200 day moving average is $23.93. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.09 and a current ratio of 1.09.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results 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 return on equity of 19.74% and a net margin of 1.57%.The business had revenue of $610.18 million during the quarter, compared to analysts’ expectations of $524.98 million. During the same period in the previous year, the business earned $1.11 earnings per share. The firm’s revenue was up 18.5% on a year-over-year basis. On average, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, March 30th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $1.80 annualized dividend and a dividend yield of 6.3%. Northern Oil and Gas’s payout ratio is presently 545.45%.

Northern Oil and Gas 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.