Freestone Grove Partners LP Invests $1.49 Million in Northern Oil and Gas, Inc. $NOG

Freestone Grove Partners LP purchased a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 82,063 shares of the company's stock, valued at approximately $1,489,000. Freestone Grove Partners LP owned about 0.08% of Northern Oil and Gas at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new position in Northern Oil and Gas in the 2nd quarter valued at $29,000. Allworth Financial LP acquired a new stake in shares of Northern Oil and Gas during the second quarter worth $31,000. Ascentis Independent Advisors acquired a new stake in shares of Northern Oil and Gas during the first quarter worth $33,000. Jones Financial Companies Lllp lifted its holdings in shares of 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 worth $33,000 after buying an additional 713 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of Northern Oil and Gas by 572.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,682 shares of the company's stock valued at $36,000 after acquiring an additional 1,432 shares during the period. 98.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Bahram Akradi acquired 25,760 shares of the 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 completion of the transaction, the director directly owned 1,713,444 shares in the company, valued at approximately $33,240,813.60. This trade represents a 1.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Northern Oil and Gas Trading Down 1.3%

Shares of Northern Oil and Gas stock opened at $25.74 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. Northern Oil and Gas, Inc. has a 12-month low of $17.18 and a 12-month high of $31.17. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -4.97 and a beta of 0.70. The firm's 50-day moving average price is $21.57 and its two-hundred day moving average price is $24.20.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.05). Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. The firm had revenue of $745.24 million during the quarter, compared to analyst estimates of $594.09 million. During the same quarter in the previous year, the firm posted $1.37 earnings per share. Northern Oil and Gas's quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts forecast that Northern Oil and Gas, Inc. will post 3.79 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Tuesday, September 29th. Northern Oil and Gas's dividend payout ratio (DPR) is -34.75%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Raymond James Financial restated an "outperform" rating and issued a $28.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, July 15th. Morgan Stanley set a $25.00 price objective on shares of Northern Oil and Gas and gave the stock an "underweight" rating in a research note on Monday, June 29th. Wall Street Zen raised shares of Northern Oil and Gas from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Citigroup decreased their target price on shares of Northern Oil and Gas from $36.00 to $28.00 and set a "buy" rating on the stock in a research report on Monday, July 20th. Finally, Mizuho upgraded shares of Northern Oil and Gas to a "hold" rating in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $30.62.

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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