Heritage Wealth Management Inc. Lowers Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Heritage Wealth Management Inc. trimmed its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 54.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,485 shares of the company's stock after selling 15,050 shares during the quarter. Heritage Wealth Management Inc.'s holdings in Northern Oil and Gas were worth $377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Avantax Advisory Services Inc. lifted its position in shares of Northern Oil and Gas by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock worth $487,000 after purchasing an additional 298 shares during the period. Summit Investment Advisors Inc. boosted its position in 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 acquiring an additional 329 shares in the last quarter. Isthmus Partners LLC increased its holdings in shares of Northern Oil and Gas by 0.9% in the 4th quarter. Isthmus Partners LLC now owns 48,354 shares of the company's stock valued at $1,797,000 after acquiring an additional 411 shares during the period. Van Den Berg Management I Inc. raised its position in shares of Northern Oil and Gas by 1.2% in the 4th quarter. Van Den Berg Management I Inc. now owns 36,895 shares of the company's stock worth $1,371,000 after acquiring an additional 446 shares in the last quarter. Finally, Byrne Asset Management LLC lifted its stake in shares of Northern Oil and Gas by 54.9% during the 1st quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock worth $41,000 after purchasing an additional 483 shares during the last quarter. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Price Performance

Shares of Northern Oil and Gas stock traded down $0.53 on Monday, hitting $29.27. 1,758,045 shares of the company were exchanged, compared to its average volume of 1,594,392. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average price of $28.26 and a 200 day moving average price of $30.86. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 4.56 and a beta of 1.50. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.21. The company had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. The firm's revenue for the quarter was up 51.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. As a group, sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.18 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 Thursday, July 31st. Investors of record on Friday, June 27th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

Northern Oil and Gas declared that its board has authorized a stock repurchase plan on Tuesday, March 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Raymond James Financial reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Mizuho reduced their price target on Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Bank of America increased 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. Morgan Stanley dropped their target price on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Finally, Piper Sandler decreased their price target on Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas has an average 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.