Copeland Capital Management LLC Reduces Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Copeland Capital Management LLC cut its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,042,914 shares of the company's stock after selling 71,995 shares during the period. Northern Oil and Gas accounts for 1.2% of Copeland Capital Management LLC's investment portfolio, making the stock its 27th largest holding. Copeland Capital Management LLC owned approximately 2.07% of Northern Oil and Gas worth $61,757,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NOG. Headlands Technologies LLC purchased a new position in shares of Northern Oil and Gas during the fourth quarter worth about $29,000. Byrne Asset Management LLC raised its position 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 acquiring an additional 483 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted 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 valued at $45,000 after acquiring an additional 835 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Northern Oil and Gas during the 1st quarter worth $54,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Northern Oil and Gas during the 4th quarter worth $66,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Down 1.3%

NYSE:NOG traded down $0.37 during mid-day trading on Friday, reaching $29.03. The company's stock had a trading volume of 2,390,437 shares, compared to its average volume of 1,605,967. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The company's fifty day simple moving average is $27.68 and its two-hundred day simple moving average is $31.31. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $2.86 billion, a P/E ratio of 4.52 and a beta of 1.51.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.21. The firm had revenue of $602.10 million for the quarter, compared to analysts' expectations of $568.87 million. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. The firm's revenue for the quarter was up 51.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.28 earnings per share. On average, equities analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas declared that its board has authorized a stock buyback plan on Tuesday, March 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.80 annualized dividend and a yield of 6.20%. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

Analysts Set New Price Targets

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

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.