Vanguard Group Inc. Increases Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Vanguard Group Inc. increased its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 26.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,759,894 shares of the company’s stock after acquiring an additional 1,635,739 shares during the quarter. Vanguard Group Inc. owned approximately 7.72% of Northern Oil and Gas worth $312,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOG. BlackRock Inc. lifted its position in shares of Northern Oil and Gas by 9.6% in the 2nd quarter. BlackRock Inc. now owns 11,963,727 shares of the company’s stock worth $410,595,000 after purchasing an additional 1,048,699 shares during the period. State Street Corp lifted its holdings in Northern Oil and Gas by 12.3% during the first quarter. State Street Corp now owns 4,515,908 shares of the company’s stock worth $138,625,000 after buying an additional 494,969 shares during the period. Invesco Ltd. boosted its position in Northern Oil and Gas by 19.0% during the 3rd quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock valued at $152,318,000 after acquiring an additional 605,197 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Northern Oil and Gas by 27.0% during the 3rd quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock worth $103,085,000 after purchasing an additional 545,297 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Northern Oil and Gas by 13.4% in the first quarter. Ameriprise Financial Inc. now owns 1,952,890 shares of the company’s stock worth $59,271,000 after purchasing an additional 231,283 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $39.04 on Thursday. Northern Oil and Gas, Inc. has a 52 week low of $29.18 and a 52 week high of $43.64. The business’s 50 day moving average price is $35.24 and its 200 day moving average price is $37.00. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.90. The firm has a market cap of $3.94 billion, a P/E ratio of 3.89 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.03). Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The company had revenue of $543.40 million during the quarter, compared to analyst estimates of $555.31 million. During the same period last year, the firm earned $1.43 EPS. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.69 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.40 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.10%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 15.94%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NOG. Bank of America downgraded shares of Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price objective on the stock. in a research report on Friday, January 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Raymond James dropped their target price on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Stifel Nicolaus decreased their price target on Northern Oil and Gas from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Finally, Johnson Rice downgraded Northern Oil and Gas from a “buy” rating to an “accumulate” rating in a report on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $46.60.

Insider Buying and Selling

In other news, President Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the completion of the transaction, the president now directly owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider James B. Evans sold 945 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $35,910.00. Following the transaction, the insider now owns 83,872 shares in the company, valued at $3,187,136. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Adam A. Dirlam sold 2,088 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $79,344.00. Following the sale, the president now owns 122,359 shares of the company’s stock, valued at $4,649,642. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,794 shares of company stock valued at $284,252. 3.60% of the stock is owned by company insiders.

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.