Caxton Associates LLP Buys New Stake 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 stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other large investors have also modified their holdings of the company. Pinnacle Holdings LLC acquired a new stake in shares of Northern Oil and Gas in the first quarter valued at approximately $28,000. Signaturefd LLC grew its position in shares of Northern Oil and Gas by 60.0% in the first quarter. Signaturefd LLC now owns 1,080 shares of the company's stock valued at $33,000 after purchasing an additional 405 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company's stock valued at $33,000 after purchasing an additional 713 shares during the last quarter. Byrne Asset Management LLC grew its position in shares of Northern Oil and Gas by 54.9% in the first 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 last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Northern Oil and Gas by 127.7% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock valued at $45,000 after purchasing an additional 835 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Down 1.0%

NYSE:NOG traded down $0.26 during trading hours on Friday, reaching $25.50. 844,977 shares of the company were exchanged, compared to its average volume of 1,465,075. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 4.21 and a beta of 1.67. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31. The stock has a 50 day simple moving average of $26.46 and a 200 day simple moving average of $27.23.

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

Northern Oil and Gas Dividend Announcement

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 issued a dividend of $0.45 per share. The ex-dividend date is Monday, September 29th. This represents a $1.80 annualized dividend and a dividend yield of 7.1%. Northern Oil and Gas's payout ratio is presently 29.70%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley lowered shares of Northern Oil and Gas from a "positive" rating to an "underweight" rating and lowered their price target for the company from $29.00 to $27.00 in a research report on Monday, August 18th. Piper Sandler restated a "neutral" rating and set a $25.00 target price (down previously from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. Citigroup raised their target price on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Bank of America raised their target price on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, William Blair began coverage on shares of Northern Oil and Gas in a research report on Monday, August 25th. They set an "outperform" rating on the stock. One research 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. Based on data from MarketBeat.com, Northern Oil and Gas has an average rating of "Moderate Buy" and a consensus target price of $36.89.

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.