Sterling Capital Management LLC cut its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG – Free Report) by 27.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,071 shares of the company’s stock after selling 37,981 shares during the quarter. Sterling Capital Management LLC’s holdings in Northern Oil and Gas were worth $2,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of NOG. Isthmus Partners LLC increased its stake in Northern Oil and Gas by 13.8% in the 3rd quarter. Isthmus Partners LLC now owns 111,853 shares of the company’s stock worth $2,559,000 after purchasing an additional 13,537 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Northern Oil and Gas during the third quarter valued at approximately $28,000. Nisa Investment Advisors LLC boosted its stake in shares of Northern Oil and Gas by 148.1% during the third quarter. Nisa Investment Advisors LLC now owns 41,584 shares of the company’s stock valued at $970,000 after purchasing an additional 24,826 shares during the period. Abel Hall LLC boosted its stake in shares of Northern Oil and Gas by 30.9% during the third quarter. Abel Hall LLC now owns 23,170 shares of the company’s stock valued at $530,000 after purchasing an additional 5,467 shares during the period. Finally, Counterpoint Mutual Funds LLC grew its holdings in shares of Northern Oil and Gas by 3,057.0% in the third quarter. Counterpoint Mutual Funds LLC now owns 427,012 shares of the company’s stock worth $9,770,000 after purchasing an additional 413,486 shares during the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts recently commented on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $26.00 target price (up from $25.00) on shares of Northern Oil and Gas in a research note on Thursday, October 15th. Citigroup upped their price target on shares of Northern Oil and Gas from $28.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, October 15th. Wall Street Zen raised shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings lowered shares of Northern Oil and Gas from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Finally, Mizuho raised their price target on shares of Northern Oil and Gas from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, October 14th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $31.22.
Get Our Latest Research Report on Northern Oil and Gas
Northern Oil and Gas Trading Down 0.0%
NOG opened at $28.26 on Monday. The business has a 50 day simple moving average of $25.53 and a two-hundred day simple moving average of $23.49. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of -5.46 and a beta of 0.90. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.80. Northern Oil and Gas, Inc. has a one year low of $17.18 and a one year high of $31.17.
Northern Oil and Gas (NYSE:NOG – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.05). The business had revenue of $745.24 million during the quarter, compared to analysts’ expectations of $594.09 million. Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 EPS. Analysts predict that Northern Oil and Gas, Inc. will post 3.82 EPS 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 30th. Investors of record on Tuesday, September 29th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Tuesday, September 29th. Northern Oil and Gas’s dividend payout ratio is currently -34.75%.
Northern Oil and Gas Company Profile
Northern Oil and Gas, Inc is an independent energy company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids in the United States. The company primarily holds non-operated working interests, allowing it to participate in wells drilled and managed by other exploration and production companies while maintaining exposure to a broad portfolio of oil and gas assets.
Northern Oil and Gas has historically focused on properties in the Williston Basin of North Dakota and Montana and has expanded its operations into other major U.S.
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