Edgestream Partners L.P. Makes New $381,000 Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

Edgestream Partners L.P. acquired a new position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 12,587 shares of the company's stock, valued at approximately $381,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in Northern Oil and Gas in the 4th quarter worth approximately $29,000. Byrne Asset Management LLC lifted 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 worth $41,000 after buying an additional 483 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Northern Oil and Gas by 127.7% in the 1st 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 during the period. FNY Investment Advisers LLC purchased a new stake in Northern Oil and Gas in the 1st quarter worth approximately $54,000. Finally, Fifth Third Bancorp lifted its holdings in Northern Oil and Gas by 26.7% in the 1st quarter. Fifth Third Bancorp now owns 2,480 shares of the company's stock worth $75,000 after buying an additional 523 shares during the period. Hedge funds and other institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Stock Down 1.1%

NOG stock traded down $0.29 on Friday, reaching $27.24. 2,044,397 shares of the company traded hands, compared to its average volume of 1,615,180. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31. 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 company has a market cap of $2.69 billion, a P/E ratio of 4.24 and a beta of 1.50. The firm has a fifty day simple moving average of $29.08 and a 200-day simple moving average of $30.41.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data 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. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. The company had revenue of $602.10 million during the quarter, compared to analyst estimates of $568.87 million. During the same quarter last year, the company earned $1.28 EPS. The firm's revenue for the quarter was up 51.9% on a year-over-year basis. Research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.61%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's dividend payout ratio (DPR) is presently 28.04%.

Analyst Ratings Changes

Several research firms have weighed in on NOG. Piper Sandler increased their price objective on Northern Oil and Gas from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Thursday. Citigroup increased their target price on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Bank of America increased their target price on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Royal Bank Of Canada decreased their target price on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a research report on Monday, July 14th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Northern Oil and Gas has a consensus rating of "Hold" and an average price target of $38.78.

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.