GSA Capital Partners LLP Takes Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Key Points

• GSA Capital Partners LLP has acquired a new position in Northern Oil and Gas, Inc., investing approximately $669,000 for 22,118 shares during the first quarter.
• Northern Oil and Gas reported $706.81 million in revenue for the last quarter, significantly exceeding analyst estimates and marking a 26.0% increase year-over-year.
• The company declared a quarterly dividend of $0.45 per share, translating to an annual yield of 7.2%, to be paid on October 31st.

GSA Capital Partners LLP acquired a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 22,118 shares of the company's stock, valued at approximately $669,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in shares of Northern Oil and Gas by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,296,886 shares of the company's stock worth $122,507,000 after purchasing an additional 68,631 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Northern Oil and Gas by 12.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,554,377 shares of the company's stock valued at $46,429,000 after purchasing an additional 173,092 shares during the last quarter. Northern Trust Corp boosted its stake in Northern Oil and Gas by 9.2% in the fourth quarter. Northern Trust Corp now owns 1,246,573 shares of the company's stock valued at $46,323,000 after acquiring an additional 104,854 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Northern Oil and Gas by 1.9% during the first quarter. New York State Common Retirement Fund now owns 1,092,152 shares of the company's stock worth $33,016,000 after acquiring an additional 20,186 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in Northern Oil and Gas by 1.4% in the 4th quarter. Voya Investment Management LLC now owns 917,019 shares of the company's stock worth $34,076,000 after acquiring an additional 12,257 shares during the last quarter. 98.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NOG has been the topic of several recent research reports. Royal Bank Of Canada lowered their price objective on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating on the stock in a research report on Monday, July 14th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Piper Sandler restated a "neutral" rating and set a $25.00 price objective (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday. Mizuho cut their price objective on Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Finally, Bank of America raised their price target 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. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Northern Oil and Gas presently has a consensus rating of "Moderate Buy" and an average price target of $38.11.

Northern Oil and Gas Stock Performance

NOG stock traded down $0.66 during midday trading on Thursday, hitting $24.38. The stock had a trading volume of 1,208,193 shares, compared to its average volume of 1,830,142. The company has a current ratio of 1.21, a quick ratio of 0.92 and a debt-to-equity ratio of 0.98. The stock has a 50-day simple moving average of $28.98 and a 200 day simple moving average of $29.37. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 4.04 and a beta of 1.55. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $555.54 million. During the same quarter in the previous year, the company posted $1.46 EPS. Northern Oil and Gas's revenue was up 26.0% on a year-over-year basis. As a group, equities 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, September 29th. This represents a $1.80 annualized dividend and a yield of 7.4%. Northern Oil and Gas's dividend payout ratio (DPR) is presently 29.70%.

Northern Oil and Gas Company 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.