Allspring Global Investments Holdings LLC boosted its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 25.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,951,505 shares of the company's stock after purchasing an additional 397,128 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.98% of Northern Oil and Gas worth $56,867,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its position in Northern Oil and Gas by 133.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company's stock worth $27,000 after purchasing an additional 545 shares in the last quarter. UMB Bank n.a. boosted its position in Northern Oil and Gas by 200.3% during the second quarter. UMB Bank n.a. now owns 955 shares of the company's stock worth $27,000 after purchasing an additional 637 shares in the last quarter. Pinnacle Holdings LLC purchased a new stake in Northern Oil and Gas during the first quarter worth $28,000. Signaturefd LLC boosted its position in Northern Oil and Gas by 60.0% during the first quarter. Signaturefd LLC now owns 1,080 shares of the company's stock worth $33,000 after purchasing an additional 405 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company's stock worth $33,000 after purchasing an additional 713 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have commented on NOG. William Blair initiated coverage on Northern Oil and Gas in a research report on Monday, August 25th. They set an "outperform" rating on the stock. Mizuho reduced their price objective on Northern Oil and Gas from $32.00 to $28.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. Piper Sandler restated a "neutral" rating and issued a $25.00 price objective (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. Citigroup upped their price objective on Northern Oil and Gas from $34.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Northern Oil and Gas in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $34.25.
Check Out Our Latest Analysis on Northern Oil and Gas
Northern Oil and Gas Stock Performance
NYSE NOG opened at $22.34 on Wednesday. The business's 50-day moving average price is $25.05 and its 200 day moving average price is $26.53. 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 market capitalization of $2.18 billion, a PE ratio of 3.69 and a beta of 1.61. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98.
Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its earnings results on Monday, March 6th. The company reported $1.06 earnings per share for the quarter. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%.The firm had revenue of $319.19 million for the quarter. On average, research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.
Northern Oil and Gas Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, September 29th. This represents a $1.80 annualized dividend and a yield of 8.1%. Northern Oil and Gas's dividend payout ratio is 29.70%.
About Northern Oil and Gas
(
Free Report)
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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