Caxton Associates LLP Takes $4.34 Million Position in Northern Oil and Gas, Inc. $NOG

Key Points

• Caxton Associates LLP has acquired a new investment in Northern Oil and Gas, purchasing 143,661 shares valued at approximately $4.34 million, which accounts for about 0.15% of the company's total shares.
• Multiple institutional investors have increased their holdings in Northern Oil and Gas, contributing to institutional ownership reaching 98.80% of the company's stock.
• Northern Oil and Gas reported strong quarterly results, with earnings of $1.37 per share, surpassing expectations and a revenue increase of 26.0% year-over-year.

Caxton Associates LLP purchased a new position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 143,661 shares of the company's stock, valued at approximately $4,343,000. Caxton Associates LLP owned about 0.15% of Northern Oil and Gas at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Signaturefd LLC increased its position in Northern Oil and Gas by 60.0% during the first quarter. Signaturefd LLC now owns 1,080 shares of the company's stock valued at $33,000 after acquiring an additional 405 shares during the last quarter. Byrne Asset Management LLC grew its stake in shares of 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 period. Fifth Third Bancorp increased its position in shares of Northern Oil and Gas by 26.7% during 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 last quarter. Jones Financial Companies Lllp lifted its stake in shares of Northern Oil and Gas by 181.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company's stock worth $33,000 after purchasing an additional 713 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Northern Oil and Gas by 127.7% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock worth $45,000 after purchasing an additional 835 shares during the period. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Price Performance

Shares of NOG stock traded down $0.03 on Thursday, hitting $25.75. 1,548,495 shares of the stock traded hands, compared to its average volume of 1,805,709. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $44.31. The firm has a 50 day simple moving average of $26.55 and a two-hundred day simple moving average of $27.28. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 4.25 and a beta of 1.67.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.50. The business had revenue of $706.81 million during the quarter, compared to analyst estimates of $555.54 million. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%.Northern Oil and Gas's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 EPS. As a group, equities research analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Monday, September 29th. Northern Oil and Gas's dividend payout ratio (DPR) is 29.70%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Royal Bank Of Canada cut their target price 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 report on Monday, July 14th. William Blair assumed coverage on shares of Northern Oil and Gas in a research report on Monday, August 25th. They set an "outperform" rating for the company. Citigroup upped their price objective on 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. Piper Sandler reaffirmed a "neutral" rating and issued a $25.00 target price (down from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. Finally, Morgan Stanley lowered Northern Oil and Gas from a "positive" rating to an "underweight" rating and cut their price target for the company from $29.00 to $27.00 in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock 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.