Harbor Capital Advisors Inc. Purchases 20,449 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Harbor Capital Advisors Inc. boosted its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 14.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,549 shares of the company's stock after acquiring an additional 20,449 shares during the quarter. Harbor Capital Advisors Inc. owned 0.16% of Northern Oil and Gas worth $4,884,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NOG. First Horizon Advisors Inc. grew its position in shares of Northern Oil and Gas by 9.1% during the 4th quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company's stock worth $129,000 after buying an additional 289 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Northern Oil and Gas by 2.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock worth $487,000 after acquiring an additional 298 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Northern Oil and Gas by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,378 shares of the company's stock valued at $386,000 after purchasing an additional 329 shares in the last quarter. Legato Capital Management LLC boosted its holdings in shares of Northern Oil and Gas by 5.8% in the fourth quarter. Legato Capital Management LLC now owns 6,383 shares of the company's stock valued at $237,000 after buying an additional 349 shares during the period. Finally, Isthmus Partners LLC increased its holdings in Northern Oil and Gas by 0.9% during the 4th quarter. Isthmus Partners LLC now owns 48,354 shares of the company's stock worth $1,797,000 after purchasing an additional 411 shares in the last quarter. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Price Performance

Shares of NYSE NOG traded up $1.06 during mid-day trading on Friday, hitting $32.21. 5,194,679 shares of the stock traded hands, compared to its average volume of 1,570,962. The firm has a 50 day simple moving average of $26.24 and a two-hundred day simple moving average of $32.14. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The company has a market cap of $3.18 billion, a PE ratio of 6.27 and a beta of 1.51. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23.

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, topping the consensus estimate of $1.12 by $0.21. The company had revenue of $602.10 million during the quarter, compared to analysts' expectations of $568.87 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. Northern Oil and Gas's revenue for the quarter was up 51.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.28 earnings per share. As a group, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas declared that its board has authorized a stock buyback program on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Northern Oil and Gas Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, June 27th. This represents a $1.80 annualized dividend and a yield of 5.59%. Northern Oil and Gas's payout ratio is currently 28.04%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NOG. Raymond James reaffirmed a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Royal Bank of Canada reduced their price objective on shares of Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating for the company in a research report on Monday, April 14th. Piper Sandler decreased their target price on Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Citigroup lowered their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Finally, Bank of America lifted their price objective on Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $39.67.

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.