Northern Oil and Gas, Inc. $NOG Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Northern Oil and Gas by 7.8%, owning a total of 1,141,754 shares valued at approximately $34.52 million.
• Northern Oil and Gas recently announced a quarterly dividend of $0.45, which translates to an annualized dividend yield of 7.6%.
• The company's shares are currently trading down 2.3%, with a market cap of $2.32 billion and a P/E ratio of 3.93.

Charles Schwab Investment Management Inc. boosted its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,141,754 shares of the company's stock after purchasing an additional 82,855 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.16% of Northern Oil and Gas worth $34,515,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Signaturefd LLC increased its holdings in Northern Oil and Gas by 60.0% during the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company's stock worth $33,000 after purchasing an additional 405 shares during the period. Byrne Asset Management LLC increased its holdings in 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 worth $41,000 after purchasing an additional 483 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Northern Oil and Gas by 127.7% during 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. FNY Investment Advisers LLC purchased a new stake in Northern Oil and Gas during the 1st quarter worth about $54,000. Finally, Fifth Third Bancorp increased its holdings in Northern Oil and Gas by 26.7% during the 1st quarter. Fifth Third Bancorp now owns 2,480 shares of the company's stock worth $75,000 after purchasing an additional 523 shares during the period. Hedge funds and other institutional investors own 98.80% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on NOG. Royal Bank Of Canada cut 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. Mizuho cut 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. Raymond James Financial reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Morgan Stanley lowered Northern Oil and Gas from a "positive" rating to an "underweight" rating and cut their target price for the stock from $29.00 to $27.00 in a research report on Monday, August 18th. Finally, Bank of America raised their target price on 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $36.89.

Northern Oil and Gas Stock Up 5.7%

Shares of NYSE NOG traded up $1.3440 during midday trading on Friday, hitting $25.0640. 1,873,946 shares of the company's stock were exchanged, compared to its average volume of 1,934,318. The company has a market cap of $2.45 billion, a PE ratio of 4.14 and a beta of 1.55. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The firm's fifty day simple moving average is $27.76 and its 200-day simple moving average is $28.13. 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 (NYSE:NOG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $0.87 by $0.50. The company had revenue of $706.81 million for 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%.The firm's revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 earnings per share. Research analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.80 annualized dividend and a yield of 7.2%. Northern Oil and Gas's payout ratio is 29.70%.

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.