BW Gestao de Investimentos Ltda. Takes $14.14 Million Position in Northern Oil and Gas, Inc. $NOG

Key Points

• BW Gestao de Investimentos Ltda. acquired 467,641 shares of Northern Oil and Gas, valued at approximately $14.1 million, making it the firm's 25th largest holding.
• Citigroup recently raised its price target for Northern Oil and Gas shares from $34.00 to $38.00, reaffirming a "buy" rating, while other analysts have varied in their recommendations.
• Northern Oil and Gas reported a 26% year-over-year revenue increase in its latest quarter, achieving $706.81 million, and also announced a quarterly dividend of $0.45 per share with a yield of 6.7%.

BW Gestao de Investimentos Ltda. bought a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 467,641 shares of the company's stock, valued at approximately $14,137,000. Northern Oil and Gas makes up approximately 0.4% of BW Gestao de Investimentos Ltda.'s investment portfolio, making the stock its 25th largest holding. BW Gestao de Investimentos Ltda. owned 0.47% of Northern Oil and Gas at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its holdings in Northern Oil and Gas by 25.3% during the first quarter. State of Alaska Department of Revenue now owns 97,025 shares of the company's stock worth $2,932,000 after purchasing an additional 19,586 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Northern Oil and Gas by 6.4% in the first quarter. American Century Companies Inc. now owns 6,953,377 shares of the company's stock valued at $210,201,000 after buying an additional 415,781 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Northern Oil and Gas by 2.6% in the first quarter. Principal Financial Group Inc. now owns 494,508 shares of the company's stock valued at $14,949,000 after buying an additional 12,711 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Northern Oil and Gas by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,141,754 shares of the company's stock valued at $34,515,000 after buying an additional 82,855 shares in the last quarter. Finally, Motley Fool Asset Management LLC increased its holdings in shares of Northern Oil and Gas by 21.2% in the first quarter. Motley Fool Asset Management LLC now owns 85,483 shares of the company's stock valued at $2,584,000 after buying an additional 14,945 shares in the last quarter. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Stock Down 4.7%

NYSE:NOG traded down $1.23 during trading hours on Friday, hitting $24.80. 1,239,352 shares of the stock traded hands, compared to its average volume of 1,553,882. The firm has a 50 day moving average price of $26.87 and a 200 day moving average price of $27.47. 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, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $44.31. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 4.09 and a beta of 1.67.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.50. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The company had revenue of $706.81 million for the quarter, compared to the consensus estimate of $555.54 million. During the same period in the previous year, the business earned $1.46 EPS. The company's revenue was up 26.0% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Monday, September 29th. Northern Oil and Gas's payout ratio is currently 29.70%.

Analyst Upgrades and Downgrades

NOG has been the topic of several research reports. Bank of America upped their price target on Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a 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. William Blair initiated coverage on Northern Oil and Gas in a report on Monday, August 25th. They issued an "outperform" rating on the stock. Mizuho dropped their price target on Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Finally, Royal Bank Of Canada dropped their price target on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating on the stock in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Northern Oil and Gas has a consensus rating of "Moderate Buy" and a consensus target price of $36.89.

Northern Oil and Gas Company 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.