12th Street Asset Management Company LLC Has $6.33 Million Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Key Points

• 12th Street Asset Management Company LLC decreased its stake in Northern Oil and Gas, Inc. by 51.5%, selling 222,737 shares to hold 209,454 shares, which represent about 1.1% of its portfolio.
• Many institutional investors are actively adjusting their positions, with firms like Signaturefd LLC increasing their stake by 60% during the same quarter.
• Analysts have mixed sentiments on Northern Oil and Gas, with reports indicating an average rating of "Hold" and a consensus price target of $38.78, while recent price objectives have ranged from $31.00 to $38.00.

12th Street Asset Management Company LLC decreased its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 51.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 209,454 shares of the company's stock after selling 222,737 shares during the period. Northern Oil and Gas makes up 1.1% of 12th Street Asset Management Company LLC's portfolio, making the stock its 23rd biggest position. 12th Street Asset Management Company LLC owned 0.21% of Northern Oil and Gas worth $6,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of NOG. Vestcor Inc bought a new position in Northern Oil and Gas during the 1st quarter worth approximately $212,000. XTX Topco Ltd acquired a new stake in Northern Oil and Gas in the 1st quarter valued at approximately $256,000. GSA Capital Partners LLP bought a new position in Northern Oil and Gas during the 1st quarter valued at $669,000. TCTC Holdings LLC boosted its stake in Northern Oil and Gas by 20.0% during the 1st quarter. TCTC Holdings LLC now owns 12,000 shares of the company's stock valued at $363,000 after purchasing an additional 2,000 shares in the last quarter. Finally, First National Advisers LLC bought a new stake in shares of Northern Oil and Gas during the 1st quarter worth $344,000. Hedge funds and other institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Stock Down 0.3%

Shares of NYSE:NOG traded down $0.07 on Monday, reaching $24.97. The company had a trading volume of 1,227,760 shares, compared to its average volume of 1,825,860. The stock has a market capitalization of $2.46 billion, a P/E ratio of 4.12 and a beta of 1.55. The stock has a 50-day moving average price of $29.05 and a 200 day moving average price of $29.51. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The company has a quick ratio of 0.92, a current ratio of 1.21 and a debt-to-equity ratio of 0.98.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $706.81 million for the quarter, compared to the consensus estimate of $555.54 million. During the same period last year, the business earned $1.46 EPS. The firm's revenue was up 26.0% compared to the same quarter last year. On average, equities analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.2%. Northern Oil and Gas's payout ratio is 29.70%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NOG shares. Piper Sandler reduced their price objective on Northern Oil and Gas from $31.00 to $25.00 and set a "neutral" rating for the company in a research note on Monday. Raymond James Financial reissued a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Citigroup raised their target price on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Bank of America raised their target price on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Mizuho decreased their target price 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. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average 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.