Northern Oil and Gas, Inc. $NOG Stake Lifted by Aberdeen Group plc

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 grew its stake 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 SEC. The institutional investor owned 460,112 shares of the company's stock after purchasing an additional 56,691 shares during the quarter. Aberdeen Group plc owned approximately 0.47% of Northern Oil and Gas worth $13,999,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NOG. Signaturefd LLC raised its stake in shares of Northern Oil and Gas by 60.0% in the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company's stock valued at $33,000 after purchasing an additional 405 shares in the last quarter. Byrne Asset Management LLC grew its position in shares of Northern Oil and Gas by 54.9% during the 1st quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock valued at $41,000 after buying an additional 483 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Northern Oil and Gas by 127.7% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock valued at $45,000 after buying an additional 835 shares during the last quarter. Headlands Technologies LLC grew its position in shares of Northern Oil and Gas by 124.6% during the 1st quarter. Headlands Technologies LLC now owns 1,743 shares of the company's stock valued at $53,000 after buying an additional 967 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of Northern Oil and Gas during the 1st quarter valued at about $54,000. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Stock Performance

NYSE NOG traded up $1.3440 on Friday, hitting $25.0640. The stock had a trading volume of 1,873,946 shares, compared to its average volume of 1,946,807. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 4.14 and a beta of 1.55. The company's 50-day moving average is $27.76 and its two-hundred day moving average is $28.08.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its 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 net margin of 23.62% and a return on equity of 22.12%. The firm had revenue of $706.81 million during the quarter, compared to analysts' expectations of $555.54 million. During the same quarter in the prior year, the firm earned $1.46 EPS. Northern Oil and Gas's quarterly revenue was up 26.0% on a year-over-year basis. On average, analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a $0.45 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.80 annualized dividend and a yield of 7.2%. Northern Oil and Gas's dividend payout ratio is 29.70%.

Wall Street Analysts Forecast Growth

NOG has been the subject of a number of recent research reports. Royal Bank Of Canada lowered their price objective on shares of Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a research report on Monday, July 14th. Morgan Stanley downgraded shares of Northern Oil and Gas from a "positive" rating to an "underweight" rating and lowered their price objective for the company from $29.00 to $27.00 in a research report on Monday, August 18th. Piper Sandler reaffirmed a "neutral" rating and set a $25.00 price objective (down previously from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. Mizuho lowered their price objective on shares of 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. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas currently has an average rating of "Moderate Buy" and a consensus price target of $36.89.

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.