Denali Advisors LLC Buys 98,474 Shares of Northern Oil and Gas, Inc. $NOG

Key Points

• Denali Advisors LLC increased its stake in Northern Oil and Gas by 45.8% in the fourth quarter, buying 98,474 additional shares and bringing its total holding to 313,261 shares worth about $6.73 million.
• Institutional ownership remains very high, with several other funds also adding to positions and institutions controlling about 98.8% of the stock.
• Northern Oil and Gas reported mixed fundamentals: it beat quarterly EPS estimates but missed on revenue, and it also pays a $0.45 quarterly dividend that implies a 7.7% annual yield.

Denali Advisors LLC boosted its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 45.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 313,261 shares of the company's stock after purchasing an additional 98,474 shares during the period. Denali Advisors LLC owned about 0.32% of Northern Oil and Gas worth $6,726,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOG. AQR Capital Management LLC lifted its position in Northern Oil and Gas by 55.1% during the first quarter. AQR Capital Management LLC now owns 40,781 shares of the company's stock valued at $1,233,000 after purchasing an additional 14,492 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Northern Oil and Gas by 3.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,334 shares of the company's stock valued at $1,763,000 after purchasing an additional 1,865 shares during the period. Jones Financial Companies Lllp lifted its position in Northern Oil and Gas by 181.0% during 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 period. Empowered Funds LLC lifted its position in Northern Oil and Gas by 5.0% during the first quarter. Empowered Funds LLC now owns 65,217 shares of the company's stock valued at $1,972,000 after purchasing an additional 3,124 shares during the period. Finally, Intech Investment Management LLC lifted its position in Northern Oil and Gas by 41.8% during the first quarter. Intech Investment Management LLC now owns 46,453 shares of the company's stock valued at $1,404,000 after purchasing an additional 13,690 shares during the period. Institutional investors own 98.80% of the company's stock.

Analyst Ratings Changes

NOG has been the subject of a number of research reports. Bank of America upped their target price on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, March 24th. Piper Sandler upped their target price on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a "neutral" rating in a report on Thursday, March 12th. Weiss Ratings cut shares of Northern Oil and Gas from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday. Citigroup reduced their target price on shares of Northern Oil and Gas from $39.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. Finally, Royal Bank Of Canada upped their target price on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the company a "sector perform" rating in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $32.00.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG opened at $23.45 on Friday. The firm has a fifty day moving average price of $27.55 and a 200-day moving average price of $24.59. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market cap of $2.48 billion, a PE ratio of -3.68 and a beta of 0.75. Northern Oil and Gas, Inc. has a 1 year low of $20.18 and a 1 year high of $32.62.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.03. The firm had revenue of $5.03 million during the quarter, compared to analysts' expectations of $511.38 million. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. The company's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.33 earnings per share. Equities analysts anticipate that Northern Oil and Gas, Inc. will post 3.23 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, March 30th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Monday, March 30th. Northern Oil and Gas's dividend payout ratio (DPR) is presently -28.26%.

Northern Oil and Gas Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company's primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.

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