Denali Advisors LLC Purchases 40,221 Shares of Northern Oil and Gas, Inc. $NOG

Denali Advisors LLC increased its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 24.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 201,581 shares of the company’s stock after purchasing an additional 40,221 shares during the period. Denali Advisors LLC owned approximately 0.20% of Northern Oil and Gas worth $5,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in Northern Oil and Gas by 6.4% in the 1st quarter. American Century Companies Inc. now owns 6,953,377 shares of the company’s stock worth $210,201,000 after purchasing an additional 415,781 shares during the period. Principal Financial Group Inc. boosted its stake in Northern Oil and Gas by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 494,508 shares of the company’s stock worth $14,949,000 after purchasing an additional 12,711 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Northern Oil and Gas by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,141,754 shares of the company’s stock worth $34,515,000 after purchasing an additional 82,855 shares during the period. Motley Fool Asset Management LLC boosted its stake in Northern Oil and Gas by 21.2% in the 1st quarter. Motley Fool Asset Management LLC now owns 85,483 shares of the company’s stock worth $2,584,000 after purchasing an additional 14,945 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in Northern Oil and Gas by 1.9% in the 1st quarter. New York State Common Retirement Fund now owns 1,092,152 shares of the company’s stock worth $33,016,000 after purchasing an additional 20,186 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NOG shares. Citigroup reduced their price objective on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler restated a “neutral” rating and set a $25.00 price objective (down from $31.00) on shares of Northern Oil and Gas in a research note on Monday, August 4th. Morgan Stanley restated an “underweight” rating and set a $26.00 price objective (down from $27.00) on shares of Northern Oil and Gas in a research note on Tuesday, October 14th. Royal Bank Of Canada reduced their price objective on shares of Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Monday, July 14th. Finally, Mizuho dropped their target price on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $33.00.

Northern Oil and Gas Trading Up 0.2%

Shares of NOG stock opened at $21.34 on Wednesday. The firm has a 50 day moving average price of $24.75 and a two-hundred day moving average price of $26.30. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $2.08 billion, a PE ratio of 3.52 and a beta of 1.61. Northern Oil and Gas, Inc. has a 12-month low of $19.88 and a 12-month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Monday, March 6th. The company reported $1.06 EPS for the quarter. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The business had revenue of $319.19 million for the quarter. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.80 annualized dividend and a dividend yield of 8.4%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 29.70%.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.