Northern Oil and Gas, Inc. $NOG Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 10.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 20,739 shares of the company’s stock after selling 2,364 shares during the quarter. ProShare Advisors LLC’s holdings in Northern Oil and Gas were worth $588,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NOG. American Century Companies Inc. boosted its holdings in Northern Oil and Gas by 6.4% in the first quarter. American Century Companies Inc. now owns 6,953,377 shares of the company’s stock valued at $210,201,000 after purchasing an additional 415,781 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Northern Oil and Gas by 30.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company’s stock worth $129,939,000 after buying an additional 1,001,493 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Northern Oil and Gas by 25.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,951,505 shares of the company’s stock valued at $56,867,000 after buying an additional 397,128 shares in the last quarter. Channing Capital Management LLC grew its position in shares of Northern Oil and Gas by 8.7% in the 1st quarter. Channing Capital Management LLC now owns 1,920,258 shares of the company’s stock valued at $58,049,000 after buying an additional 153,635 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in Northern Oil and Gas by 2.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,636,938 shares of the company’s stock worth $49,485,000 after acquiring an additional 36,507 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $22.29 on Wednesday. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 3.68 and a beta of 1.48. The company has a 50-day simple moving average of $23.44 and a 200-day simple moving average of $26.10. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Monday, March 6th. The company reported $1.06 earnings per share (EPS) for the quarter. The firm had revenue of $319.19 million for the quarter. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%. On average, analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.1%. The ex-dividend date is Tuesday, December 30th. Northern Oil and Gas’s dividend payout ratio is 101.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NOG shares. Citigroup decreased 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, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Wednesday, October 8th. Piper Sandler reissued a “neutral” rating and issued a $25.00 target price (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. William Blair initiated coverage on Northern Oil and Gas in a research note on Monday, August 25th. They set an “outperform” rating on the stock. Finally, Mizuho cut their price target on Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas presently has an average rating of “Hold” and a consensus price target of $33.00.

Northern Oil and Gas 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.