Harbor Capital Advisors Inc. Has $29,000 Holdings in Northern Oil and Gas, Inc. $NOG

Key Points

• Harbor Capital Advisors cut its stake in Northern Oil and Gas by 97.2% in Q4, selling 46,824 shares and finishing the period with 1,353 shares worth about $29,000.
• Northern Oil and Gas beat expectations in the latest quarter with EPS of $0.83 (vs. $0.71 est.) and revenue of $610.18 million, up 18.5% year‑over‑year.
• The company declared a quarterly dividend of $0.45 (annualized yield 6.4%) but with a very high payout ratio of 545.45%; the stock is down 5.1% and carries a consensus Hold rating with an average target of $31.71.

Harbor Capital Advisors Inc. lessened its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 97.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,353 shares of the company's stock after selling 46,824 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Northern Oil and Gas were worth $29,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. First Horizon Corp acquired a new position in shares of Northern Oil and Gas in the third quarter valued at approximately $27,000. Jones Financial Companies Lllp grew its position in shares of Northern Oil and Gas by 181.0% in the first 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. EverSource Wealth Advisors LLC grew its position in shares of Northern Oil and Gas by 429.4% in 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 during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Northern Oil and Gas by 85.7% in the second quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company's stock valued at $44,000 after purchasing an additional 702 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Northern Oil and Gas in the first quarter valued at approximately $88,000. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Stock Down 5.1%

NYSE NOG opened at $28.06 on Thursday. The business has a fifty day moving average price of $27.43 and a two-hundred day moving average price of $24.35. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.09 and a quick ratio of 1.09. Northern Oil and Gas, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $32.62. The stock has a market capitalization of $2.73 billion, a PE ratio of 85.02 and a beta of 0.94.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.12. The company had revenue of $610.18 million for the quarter, compared to analyst estimates of $524.98 million. Northern Oil and Gas had a net margin of 1.57% and a return on equity of 19.74%. The firm's revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 EPS. Equities analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Monday, March 30th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Monday, March 30th. Northern Oil and Gas's dividend payout ratio (DPR) is currently 545.45%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NOG. Weiss Ratings reissued a "hold (c-)" rating on shares of Northern Oil and Gas in a research report on Thursday, January 22nd. Mizuho set a $29.00 price target on Northern Oil and Gas in a research report on Wednesday, January 21st. Citigroup increased their price target on Northern Oil and Gas from $34.00 to $39.00 and gave the stock a "buy" rating in a research report on Tuesday, March 31st. Royal Bank Of Canada reduced their price target on Northern Oil and Gas from $33.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 20th. Finally, Morgan Stanley set a $24.00 price target on Northern Oil and Gas and gave the stock an "underweight" rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $31.71.

Northern Oil and Gas 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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