1,200,394 Shares in Northern Oil and Gas, Inc. (NYSE:NOG) Purchased by Nuveen LLC

Key Points

• Nuveen LLC purchased 1,200,394 shares of Northern Oil and Gas, valued at approximately $36.3 million, increasing their stake to about 1.22% of the company.
• Northern Oil and Gas reported a quarterly earnings EPS of $1.37, significantly beating the consensus estimate, and revealed a year-over-year revenue increase of 26.0%.
• The company declared a quarterly dividend of $0.45 per share, equating to an annual yield of 7.4%, with the payout ratio currently at 29.70%.

Nuveen LLC purchased a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,200,394 shares of the company's stock, valued at approximately $36,288,000. Nuveen LLC owned approximately 1.22% of Northern Oil and Gas at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Signaturefd LLC raised its position in Northern Oil and Gas by 60.0% during the first quarter. Signaturefd LLC now owns 1,080 shares of the company's stock valued at $33,000 after acquiring an additional 405 shares in the last quarter. Byrne Asset Management LLC raised its position in Northern Oil and Gas by 54.9% during the first quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock valued at $41,000 after acquiring an additional 483 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Northern Oil and Gas by 127.7% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock valued at $45,000 after acquiring an additional 835 shares in the last quarter. Headlands Technologies LLC raised its position in Northern Oil and Gas by 124.6% during the first quarter. Headlands Technologies LLC now owns 1,743 shares of the company's stock valued at $53,000 after acquiring an additional 967 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Northern Oil and Gas during the first quarter valued at approximately $54,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Down 1.6%

Shares of NOG opened at $24.42 on Friday. 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, Inc. has a one year low of $19.88 and a one year high of $44.31. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 4.03 and a beta of 1.55. The stock has a 50 day moving average price of $28.48 and a 200 day moving average price of $28.63.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $0.87 by $0.50. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%. The firm had revenue of $706.81 million during the quarter, compared to analysts' expectations of $555.54 million. During the same period in the previous year, the business earned $1.46 earnings per share. The firm's revenue for the quarter was up 26.0% on a year-over-year basis. Equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.4%. The ex-dividend date is Monday, September 29th. Northern Oil and Gas's payout ratio is presently 29.70%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Citigroup lifted their price target on Northern Oil and Gas from $34.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Raymond James Financial reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Mizuho reduced their price target on Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Bank of America boosted their price objective on Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Royal Bank Of Canada decreased their target price on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating on the stock in a research report on Monday, July 14th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.11.

About Northern Oil and Gas

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.

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