Aberdeen Group plc Has $11.42 Million Stake in Northern Oil and Gas, Inc. $NOG

Key Points

• Aberdeen Group plc reduced its stake in Northern Oil and Gas by 13.2%, now owning 399,470 shares valued at approximately $11.42 million.
• Several institutional investors significantly changed their positions in Northern Oil and Gas, with IFP Advisors Inc increasing its stake by 315.7%.
• Northern Oil and Gas recently declared a quarterly dividend of $0.45, yielding 8.3%, with a payout ratio of 29.70%.

Aberdeen Group plc trimmed its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 13.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 399,470 shares of the company's stock after selling 60,642 shares during the period. Aberdeen Group plc owned about 0.40% of Northern Oil and Gas worth $11,421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. IFP Advisors Inc grew its stake in Northern Oil and Gas by 315.7% in the second quarter. IFP Advisors Inc now owns 1,351 shares of the company's stock valued at $38,000 after acquiring an additional 1,026 shares during the period. Abel Hall LLC acquired a new position in Northern Oil and Gas in the second quarter valued at about $526,000. KLP Kapitalforvaltning AS grew its stake in Northern Oil and Gas by 3.0% in the second quarter. KLP Kapitalforvaltning AS now owns 20,300 shares of the company's stock valued at $583,000 after acquiring an additional 600 shares during the period. ZWJ Investment Counsel Inc. acquired a new position in Northern Oil and Gas in the second quarter valued at about $229,000. Finally, Signaturefd LLC grew its stake in Northern Oil and Gas by 365.5% in the second quarter. Signaturefd LLC now owns 5,027 shares of the company's stock valued at $143,000 after acquiring an additional 3,947 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NOG has been the topic of a number of research reports. Piper Sandler restated a "neutral" rating and issued a $25.00 price target (down from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. Morgan Stanley restated an "underweight" rating and issued a $26.00 price target (down from $27.00) on shares of Northern Oil and Gas in a report on Tuesday. William Blair initiated coverage on Northern Oil and Gas in a report on Monday, August 25th. They issued an "outperform" rating on the stock. Citigroup boosted their price target on Northern Oil and Gas from $34.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Northern Oil and Gas in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $34.25.

Northern Oil and Gas Stock Performance

NOG opened at $21.76 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. The business's 50-day simple moving average is $24.99 and its 200 day simple moving average is $26.49. The firm has a market capitalization of $2.12 billion, a PE ratio of 3.59 and a beta of 1.61. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings data on Monday, March 6th. The company reported $1.06 earnings per share (EPS) for the quarter. The firm had revenue of $319.19 million for the quarter. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%. As a group, sell-side analysts expect 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a $0.45 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.80 annualized dividend and a yield of 8.3%. Northern Oil and Gas's dividend payout ratio is currently 29.70%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.