Dimensional Fund Advisors LP Purchases 1,001,493 Shares of Northern Oil and Gas, Inc. $NOG

Key Points

• Dimensional Fund Advisors LP increased its stake in Northern Oil and Gas by 30.4%, now owning 4,298,379 shares valued at approximately $129.94 million.
• Northern Oil and Gas recently reported $1.37 earnings per share, surpassing analysts' expectations of $0.87, alongside a revenue of $706.81 million for the quarter.
• The company declared a quarterly dividend of $0.45 per share, representing an annual yield of 7.6%, with the payment date set for October 31st.

Dimensional Fund Advisors LP increased its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 30.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,298,379 shares of the company's stock after purchasing an additional 1,001,493 shares during the period. Dimensional Fund Advisors LP owned approximately 4.35% of Northern Oil and Gas worth $129,939,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Signaturefd LLC raised its position 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 in the last quarter. Van Den Berg Management I Inc. increased its holdings in shares of Northern Oil and Gas by 1.2% during the fourth quarter. Van Den Berg Management I Inc. now owns 36,895 shares of the company's stock worth $1,371,000 after buying an additional 446 shares in the last quarter. Byrne Asset Management LLC increased its holdings in shares of Northern Oil and Gas by 54.9% during the first quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock worth $41,000 after buying an additional 483 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Northern Oil and Gas by 26.7% during the first quarter. Fifth Third Bancorp now owns 2,480 shares of the company's stock worth $75,000 after buying an additional 523 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Northern Oil and Gas by 127.7% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock worth $45,000 after buying an additional 835 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Wall Street Analysts Forecast Growth

NOG has been the subject of several recent analyst reports. Bank of America raised their price objective 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. Piper Sandler reaffirmed a "neutral" rating and set a $25.00 price objective (down previously 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 dropped their price objective for the stock from $29.00 to $27.00 in a report on Monday, August 18th. Mizuho dropped their price objective on shares of Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Finally, Royal Bank Of Canada dropped their price objective on shares of Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Northern Oil and Gas presently has a consensus rating of "Moderate Buy" and an average target price of $36.89.

Northern Oil and Gas Trading Up 2.0%

NOG stock traded up $0.50 during midday trading on Wednesday, reaching $25.81. The company's stock had a trading volume of 1,035,215 shares, compared to its average volume of 1,982,087. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $44.31. The stock has a market cap of $2.52 billion, a PE ratio of 4.26 and a beta of 1.55. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The business's 50-day simple moving average is $27.40 and its 200-day simple moving average is $27.98.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $555.54 million. During the same period last year, the firm earned $1.46 earnings per share. The business's revenue for the quarter was up 26.0% on a year-over-year basis. As a group, sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 7.0%. Northern Oil and Gas's dividend payout ratio (DPR) is presently 29.70%.

Northern Oil and Gas 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.