Bank of New York Mellon Corp Has $32.67 Million Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Bank of New York Mellon Corp cut its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 4.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,080,863 shares of the company's stock after selling 51,532 shares during the period. Bank of New York Mellon Corp owned 1.09% of Northern Oil and Gas worth $32,674,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NOG. Avantax Advisory Services Inc. increased its position in Northern Oil and Gas by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock worth $487,000 after buying an additional 298 shares during the period. Summit Investment Advisors Inc. grew its stake in shares of Northern Oil and Gas by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,378 shares of the company's stock worth $386,000 after acquiring an additional 329 shares during the last quarter. Van Den Berg Management I Inc. increased its position in Northern Oil and Gas by 1.2% during the fourth quarter. Van Den Berg Management I Inc. now owns 36,895 shares of the company's stock worth $1,371,000 after acquiring an additional 446 shares during the period. Byrne Asset Management LLC raised its stake in 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 purchasing an additional 483 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Northern Oil and Gas by 26.7% in the 1st quarter. Fifth Third Bancorp now owns 2,480 shares of the company's stock valued at $75,000 after purchasing an additional 523 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Analysts Set New Price Targets

NOG has been the topic of several research reports. Piper Sandler boosted their price objective on shares of Northern Oil and Gas from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Thursday. Bank of America lifted their target price on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Citigroup lifted their price objective on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Mizuho lowered their price objective on Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $38.78.

Northern Oil and Gas Price Performance

Shares of NOG traded down $0.29 during mid-day trading on Friday, reaching $27.24. The company had a trading volume of 2,044,397 shares, compared to its average volume of 1,612,420. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $2.69 billion, a P/E ratio of 4.24 and a beta of 1.50. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The company's 50-day moving average is $29.06 and its 200-day moving average is $30.52.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.21. The firm had revenue of $602.10 million during the quarter, compared to analyst estimates of $568.87 million. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. The business's revenue for the quarter was up 51.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.28 earnings per share. On average, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.61%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

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.