Alliancebernstein L.P. Has $103.59 Million Holdings in Northern Oil and Gas, Inc. $NOG

Key Points

• Alliancebernstein L.P. recently reduced its holdings in Northern Oil and Gas by 2.1%, now owning approximately 3.47% of the company's shares, valued at $103.59 million.
• Several investment firms have increased their stakes in Northern Oil and Gas, with notable increases of 60% and 127.7% from Signaturefd LLC and Thurston Springer, respectively.
• Equities analysts have mixed views on Northern Oil and Gas, with the average price target set at $36.89, indicating a consensus rating of "Moderate Buy".

Alliancebernstein L.P. cut its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,426,670 shares of the company's stock after selling 73,583 shares during the quarter. Alliancebernstein L.P. owned approximately 3.47% of Northern Oil and Gas worth $103,588,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Pinnacle Holdings LLC acquired a new stake in Northern Oil and Gas in the first quarter valued at about $28,000. Signaturefd LLC boosted its stake in Northern Oil and Gas by 60.0% in the first quarter. Signaturefd LLC now owns 1,080 shares of the company's stock valued at $33,000 after buying an additional 405 shares in the last quarter. Byrne Asset Management LLC boosted its stake in Northern Oil and Gas by 54.9% in the first 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Northern Oil and Gas by 127.7% in the first 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 in the last quarter. Finally, Headlands Technologies LLC raised its position in Northern Oil and Gas by 124.6% in the first quarter. Headlands Technologies LLC now owns 1,743 shares of the company's stock valued at $53,000 after purchasing an additional 967 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Mizuho dropped 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. Morgan Stanley downgraded Northern Oil and Gas from a "positive" rating to an "underweight" rating and dropped their target price for the company from $29.00 to $27.00 in a research report on Monday, August 18th. Royal Bank Of Canada dropped their target price on 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. Bank of America lifted their price target on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, William Blair initiated coverage on shares of Northern Oil and Gas in a report on Monday, August 25th. They set an "outperform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.89.

Northern Oil and Gas Price Performance

Shares of NOG opened at $24.80 on Friday. 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 debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 4.09 and a beta of 1.67. The business has a 50-day moving average of $26.87 and a 200-day moving average of $27.53.

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 (EPS) for the quarter, topping 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 company had revenue of $706.81 million during the quarter, compared to the consensus estimate of $555.54 million. During the same period last year, the company earned $1.46 earnings per share. The firm's revenue was up 26.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date is Monday, September 29th. Northern Oil and Gas's dividend payout ratio (DPR) is 29.70%.

Northern Oil and Gas 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.

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