FNY Investment Advisers LLC Buys New Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

FNY Investment Advisers LLC bought a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 1,800 shares of the company’s stock, valued at approximately $54,000.

Several other large investors have also recently made changes to their positions in NOG. Byrne Asset Management LLC increased its holdings in Northern Oil and Gas by 54.9% in the 1st quarter. Byrne Asset Management LLC now owns 1,363 shares of the company’s stock worth $41,000 after acquiring an additional 483 shares in the last quarter. Fifth Third Bancorp increased its holdings in Northern Oil and Gas by 26.7% in the 1st quarter. Fifth Third Bancorp now owns 2,480 shares of the company’s stock worth $75,000 after acquiring an additional 523 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Northern Oil and Gas by 14.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 161,549 shares of the company’s stock worth $4,884,000 after acquiring an additional 20,449 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in Northern Oil and Gas in the 1st quarter worth $999,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in Northern Oil and Gas by 127.7% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company’s stock worth $45,000 after acquiring an additional 835 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock opened at $31.56 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.96. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31. The company has a fifty day simple moving average of $26.59 and a 200-day simple moving average of $31.89. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 4.92 and a beta of 1.51.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.21. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. The firm had revenue of $602.10 million during the quarter, compared to analyst estimates of $568.87 million. During the same quarter in the prior year, the firm posted $1.28 earnings per share. Northern Oil and Gas’s quarterly revenue was up 51.9% on a year-over-year basis. On average, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas announced that its Board of Directors has initiated a share buyback plan on Tuesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas’s dividend payout ratio is currently 28.04%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Raymond James Financial reissued a “strong-buy” rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Mizuho cut their price target on shares of Northern Oil and Gas from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Morgan Stanley dropped their target price on shares of Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Bank of America upped their target price on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Finally, Piper Sandler dropped their target price on shares of Northern Oil and Gas from $34.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $39.67.

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.