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

Bank of New York Mellon Corp lowered its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 about 1.09% of Northern Oil and Gas worth $32,674,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. boosted its holdings in shares of 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 valued at $487,000 after purchasing an additional 298 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Northern Oil and Gas by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,378 shares of the company's stock valued at $386,000 after acquiring an additional 329 shares during the period. Van Den Berg Management I Inc. lifted its stake 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 valued at $1,371,000 after purchasing an additional 446 shares during the last quarter. Byrne Asset Management LLC lifted its position in shares of Northern Oil and Gas by 54.9% in the 1st quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock valued at $41,000 after acquiring an additional 483 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of 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 acquiring an additional 523 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Trading Down 1.1%

NYSE NOG traded down $0.29 during trading on Friday, reaching $27.24. 2,044,397 shares of the stock traded hands, compared to its average volume of 1,612,420. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 4.24 and a beta of 1.50. The stock's 50-day moving average price is $29.08 and its 200 day moving average price is $30.45. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.96. Northern Oil and Gas, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $44.31.

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

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is presently 28.04%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NOG. Royal Bank Of Canada reduced their price target on shares of Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a report on Monday, July 14th. Citigroup lifted their price target on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Mizuho cut their price target on shares of Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating for the company in a report on Wednesday. Piper Sandler lifted their price target on shares of Northern Oil and Gas from $30.00 to $31.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $38.78.

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.