Bryce Point Capital LLC Cuts Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Key Points

• Bryce Point Capital LLC has significantly reduced its stock position in Northern Oil and Gas, Inc. by 60.8%, resulting in ownership of 24,330 shares valued at approximately $773,000.
• Research analysts have mixed views on NOG, with Citigroup raising its target price to $38.00 while others like Mizuho have lowered their targets, giving the stock a consensus rating of "Hold".
• Northern Oil and Gas recently announced a quarterly dividend of $0.45 per share, which reflects a 6.33% yield and represents a 28.04% payout ratio.

Bryce Point Capital LLC decreased its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 60.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,330 shares of the company's stock after selling 37,746 shares during the period. Bryce Point Capital LLC's holdings in Northern Oil and Gas were worth $773,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NOG. Raymond James Financial Inc. bought a new position in shares of Northern Oil and Gas in the 4th quarter valued at about $21,691,000. Natixis bought a new stake in Northern Oil and Gas in the fourth quarter worth about $7,503,000. Allspring Global Investments Holdings LLC lifted its stake in Northern Oil and Gas by 12.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,554,377 shares of the company's stock worth $46,429,000 after purchasing an additional 173,092 shares during the last quarter. Jump Financial LLC bought a new stake in Northern Oil and Gas in the fourth quarter worth about $6,423,000. Finally, Vanguard Group Inc. lifted its stake in Northern Oil and Gas by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company's stock worth $418,916,000 after purchasing an additional 166,501 shares during the last quarter. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Stock Down 2.1%

NOG stock traded down $0.60 during trading on Thursday, hitting $28.00. 833,098 shares of the company's stock traded hands, compared to its average volume of 1,810,122. The firm has a market capitalization of $2.76 billion, a P/E ratio of 4.37 and a beta of 1.50. The business has a fifty day simple moving average of $29.07 and a two-hundred day simple moving average of $29.88. 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 1 year low of $19.88 and a 1 year high of $44.31.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NOG shares. Mizuho decreased their price objective on shares of Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Citigroup raised their price objective on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada decreased 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 research note 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 company a "buy" rating in a research note on Friday, May 23rd. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. One research 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. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $38.78.

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.