First Trust Advisors LP Purchases 629,197 Shares of Northern Oil and Gas, Inc. $NOG

First Trust Advisors LP grew its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 116.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,167,971 shares of the company's stock after buying an additional 629,197 shares during the period. First Trust Advisors LP owned approximately 1.10% of Northern Oil and Gas worth $34,140,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ascentis Independent Advisors bought a new stake in shares of Northern Oil and Gas during the first quarter valued at approximately $33,000. Jones Financial Companies Lllp boosted its stake in Northern Oil and Gas by 181.0% during the 1st 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 last quarter. Global Retirement Partners LLC increased its holdings in shares of Northern Oil and Gas by 572.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company's stock worth $36,000 after purchasing an additional 1,432 shares in the last quarter. Plato Investment Management Ltd purchased a new position in shares of Northern Oil and Gas in the fourth quarter worth $43,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Northern Oil and Gas by 429.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company's stock valued at $43,000 after purchasing an additional 1,228 shares in the last quarter. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Price Performance

NYSE NOG opened at $19.88 on Wednesday. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -3.12 and a beta of 0.69. Northern Oil and Gas, Inc. has a 1-year low of $17.18 and a 1-year high of $31.17. 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 business's fifty day moving average price is $20.49 and its 200-day moving average price is $24.14.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. The company had revenue of $5.03 million during the quarter, compared to analyst estimates of $511.38 million. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.Northern Oil and Gas's revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 earnings per share. On average, equities analysts predict that Northern Oil and Gas, Inc. will post 3.5 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Monday, June 29th. Northern Oil and Gas's dividend payout ratio (DPR) is presently -28.26%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NOG shares. Wall Street Zen downgraded Northern Oil and Gas from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. 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 research note on Wednesday, April 8th. Mizuho dropped their price target on shares of Northern Oil and Gas from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, July 14th. Weiss Ratings lowered shares of Northern Oil and Gas from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley set a $25.00 price objective on shares of Northern Oil and Gas and gave the company an "underweight" rating in a report on Monday, June 29th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas has an average rating of "Hold" and an average target price of $30.62.

Insider Transactions at Northern Oil and Gas

In other news, Director Bahram Akradi purchased 25,760 shares of the business's stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $19.40 per share, for a total transaction of $499,744.00. Following the purchase, the director directly owned 1,713,444 shares in the company, valued at $33,240,813.60. This trade represents a 1.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company's stock.

Northern Oil and Gas Company 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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