Aberdeen Group plc Boosts Holdings in Northern Oil and Gas, Inc. $NOG

Key Points

• Aberdeen Group plc increased its holdings in Northern Oil and Gas, Inc. by 14.1%, now owning approximately 0.47% of the company, valued at $13.99 million.
• Northern Oil and Gas recently reported quarterly earnings of $1.37 per share, exceeding estimates and showing a 26% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.45 per share, representing a 7.6% yield, payable to shareholders on October 31st.

Aberdeen Group plc boosted its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 14.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 460,112 shares of the company's stock after buying an additional 56,691 shares during the period. Aberdeen Group plc owned approximately 0.47% of Northern Oil and Gas worth $13,999,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NOG. Mariner LLC raised its stake in shares of Northern Oil and Gas by 8.6% during the 4th quarter. Mariner LLC now owns 24,746 shares of the company's stock worth $920,000 after buying an additional 1,950 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Northern Oil and Gas by 9.7% during the 4th quarter. Marshall Wace LLP now owns 9,540 shares of the company's stock worth $355,000 after buying an additional 840 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Northern Oil and Gas by 17.0% during the 4th quarter. First Trust Advisors LP now owns 492,362 shares of the company's stock worth $18,296,000 after buying an additional 71,545 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Northern Oil and Gas by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,296,886 shares of the company's stock worth $122,507,000 after buying an additional 68,631 shares in the last quarter. Finally, Natixis purchased a new position in shares of Northern Oil and Gas during the 4th quarter worth approximately $7,503,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Performance

NYSE NOG opened at $23.79 on Tuesday. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $44.31. The company has a market capitalization of $2.32 billion, a P/E ratio of 3.93 and a beta of 1.55. The business has a 50 day moving average price of $28.36 and a 200 day moving average price of $28.42. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21.

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

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.80 annualized dividend and a yield of 7.6%. Northern Oil and Gas's dividend payout ratio (DPR) is presently 29.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Piper Sandler reissued a "neutral" rating and set a $25.00 target price (down from $31.00) on shares of Northern Oil and Gas in a research note on Monday, August 4th. Mizuho cut 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 note on Wednesday, July 16th. Raymond James Financial reissued a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Morgan Stanley downgraded Northern Oil and Gas from a "positive" rating to an "underweight" rating and dropped their price objective for the company from $29.00 to $27.00 in a research note on Monday. Finally, Bank of America raised their price objective on Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $36.89.

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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