Copeland Capital Management LLC Sells 71,995 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Copeland Capital Management LLC lowered its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 3.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,042,914 shares of the company's stock after selling 71,995 shares during the quarter. Northern Oil and Gas comprises 1.2% of Copeland Capital Management LLC's holdings, making the stock its 27th biggest position. Copeland Capital Management LLC owned 2.07% of Northern Oil and Gas worth $61,757,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NOG. Headlands Technologies LLC bought a new position in shares of Northern Oil and Gas during the fourth quarter worth approximately $29,000. Byrne Asset Management LLC raised its holdings in Northern Oil and Gas by 54.9% in the 1st quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock valued at $41,000 after acquiring an additional 483 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of 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 valued at $45,000 after acquiring an additional 835 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Northern Oil and Gas during the 1st quarter worth $54,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Northern Oil and Gas in the fourth quarter worth $66,000. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Stock Up 2.6%

Shares of NYSE:NOG traded up $0.75 during midday trading on Tuesday, hitting $29.10. 2,277,292 shares of the company's stock were exchanged, compared to its average volume of 1,589,494. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.92. Northern Oil and Gas, Inc. has a 12 month low of $19.88 and a 12 month high of $44.31. The company has a market cap of $2.87 billion, a PE ratio of 4.53 and a beta of 1.51. The stock has a 50 day moving average price of $27.78 and a 200-day moving average price of $31.09.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.12 by $0.21. The firm had revenue of $602.10 million during the quarter, compared to the consensus estimate of $568.87 million. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. The company's quarterly revenue was up 51.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 earnings per share. On average, sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.19%. Northern Oil and Gas's payout ratio is presently 28.04%.

Northern Oil and Gas announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NOG shares. Bank of America upped their price target on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Mizuho decreased their price target on Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Raymond James Financial restated a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Piper Sandler cut their price target on Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada reduced their price objective on shares of Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating for the company in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $39.67.

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.