Caption Management LLC Purchases Shares of 10,500 Northern Oil and Gas, Inc. $NOG

Key Points

• Caption Management LLC has invested approximately $317,000 in Northern Oil and Gas by acquiring 10,500 shares in the first quarter.
• Recent analyst ratings show a consensus rating of "Moderate Buy" for Northern Oil and Gas, with a target price averaging $36.89.
• The company recently declared a quarterly dividend of $0.45 per share, representing a 6.9% yield and a payout ratio of 29.70%.

Caption Management LLC purchased a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,500 shares of the company's stock, valued at approximately $317,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NOG. American Century Companies Inc. raised its stake in 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 worth $210,201,000 after buying an additional 415,781 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Northern Oil and Gas by 30.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company's stock worth $129,939,000 after buying an additional 1,001,493 shares in the last quarter. Channing Capital Management LLC raised its stake in Northern Oil and Gas by 8.7% in the first quarter. Channing Capital Management LLC now owns 1,920,258 shares of the company's stock worth $58,049,000 after buying an additional 153,635 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Northern Oil and Gas by 2.3% in the first quarter. Westfield Capital Management Co. LP now owns 1,636,938 shares of the company's stock worth $49,485,000 after buying an additional 36,507 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised 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 buying an additional 173,092 shares in the last quarter. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG traded down $1.23 during mid-day trading on Friday, hitting $24.80. The stock had a trading volume of 1,239,352 shares, compared to its average volume of 1,553,882. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. The company has a 50 day moving average of $26.87 and a two-hundred day moving average of $27.47. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The firm has a market cap of $2.42 billion, a PE ratio of 4.09 and a beta of 1.67.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.37 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 analyst estimates of $555.54 million. During the same period in the prior year, the company earned $1.46 earnings per share. The firm's revenue was up 26.0% on a year-over-year basis. Research analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend is Monday, September 29th. Northern Oil and Gas's dividend payout ratio is presently 29.70%.

Analysts Set New Price Targets

NOG has been the subject of a number of recent research reports. Piper Sandler reissued a "neutral" rating and issued a $25.00 price objective (down previously from $31.00) on shares of Northern Oil and Gas in a research note on Monday, August 4th. Morgan Stanley lowered shares of Northern Oil and Gas from a "positive" rating to an "underweight" rating and cut their price target for the stock from $29.00 to $27.00 in a report on Monday, August 18th. Royal Bank Of Canada cut their price target on shares of 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. Mizuho cut their price target on shares of 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, William Blair initiated coverage on shares of Northern Oil and Gas in a report on Monday, August 25th. They issued an "outperform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.