Charles Schwab Investment Management Inc. Acquires 82,855 Shares of Northern Oil and Gas, Inc. $NOG

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. raised its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 7.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,141,754 shares of the company's stock after acquiring an additional 82,855 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.16% of Northern Oil and Gas worth $34,515,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NOG. Signaturefd LLC raised its holdings in Northern Oil and Gas by 60.0% in the first 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. Van Den Berg Management I Inc. raised its holdings in Northern Oil and Gas by 1.2% in the fourth quarter. Van Den Berg Management I Inc. now owns 36,895 shares of the company's stock worth $1,371,000 after purchasing an additional 446 shares during the period. Byrne Asset Management LLC raised its holdings in 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 worth $41,000 after purchasing an additional 483 shares during the period. Fifth Third Bancorp raised its holdings in Northern Oil and Gas by 26.7% in the first 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. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in 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 worth $45,000 after purchasing an additional 835 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Mizuho cut their target price 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. Citigroup increased 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 report on Wednesday, July 9th. Piper Sandler reiterated 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. Morgan Stanley lowered shares of 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 report on Monday. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.89.

Northern Oil and Gas Stock Performance

NYSE NOG traded up $0.4750 on Thursday, hitting $23.7150. 2,120,700 shares of the stock were exchanged, compared to its average volume of 1,836,887. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $44.31. The company has a market capitalization of $2.31 billion, a PE ratio of 3.91 and a beta of 1.55. The business's fifty day moving average is $28.05 and its 200 day moving average is $28.35. 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 data 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 firm 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 company earned $1.46 earnings per share. The company's quarterly revenue was up 26.0% on a year-over-year basis. Research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed 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 dividend yield of 7.6%. The ex-dividend date is Monday, September 29th. Northern Oil and Gas's payout ratio is currently 29.70%.

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.