Aristotle Capital Boston LLC cut its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG – Free Report) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 315,356 shares of the company’s stock after selling 31,120 shares during the quarter. Aristotle Capital Boston LLC’s holdings in Northern Oil and Gas were worth $6,771,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its position in shares of Northern Oil and Gas by 55.1% in the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $1,233,000 after buying an additional 14,492 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Northern Oil and Gas by 3.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,334 shares of the company’s stock worth $1,763,000 after buying an additional 1,865 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Northern Oil and Gas by 181.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after buying an additional 713 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Northern Oil and Gas by 5.0% in the 1st quarter. Empowered Funds LLC now owns 65,217 shares of the company’s stock worth $1,972,000 after buying an additional 3,124 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of Northern Oil and Gas by 41.8% in the 1st quarter. Intech Investment Management LLC now owns 46,453 shares of the company’s stock worth $1,404,000 after buying an additional 13,690 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms recently commented on NOG. Citigroup decreased their price objective on shares of Northern Oil and Gas from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings lowered shares of Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Piper Sandler boosted their price objective on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $29.00 price objective (up from $28.00) on shares of Northern Oil and Gas in a research report on Friday, May 22nd. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.38.
Northern Oil and Gas Price Performance
NYSE:NOG opened at $19.33 on Thursday. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of -3.03 and a beta of 0.68. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The company’s 50-day moving average is $24.07 and its two-hundred day moving average is $24.71. Northern Oil and Gas, Inc. has a 12-month low of $19.25 and a 12-month high of $32.17.
Northern Oil and Gas (NYSE:NOG – Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $5.03 million for the quarter, compared to analyst estimates of $511.38 million. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 EPS. Research analysts expect that Northern Oil and Gas, Inc. will post 3.42 EPS for the current year.
Northern Oil and Gas Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 9.3%. The ex-dividend date is Monday, June 29th. Northern Oil and Gas’s dividend payout ratio is -28.26%.
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.
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