Homestead Advisers Corp Has $3.02 Million Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Homestead Advisers Corp cut its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 23.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,800 shares of the company's stock after selling 31,000 shares during the quarter. Homestead Advisers Corp owned 0.10% of Northern Oil and Gas worth $3,017,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. raised its position 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 valued at $487,000 after acquiring an additional 298 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Northern Oil and Gas by 7.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,377 shares of the company's stock worth $386,000 after purchasing an additional 764 shares during the last quarter. Cibc World Markets Corp bought a new position in Northern Oil and Gas in the 4th quarter worth approximately $345,000. Xponance Inc. increased its position in Northern Oil and Gas by 23.4% in the 4th quarter. Xponance Inc. now owns 7,969 shares of the company's stock worth $296,000 after buying an additional 1,511 shares during the period. Finally, Virtu Financial LLC bought a new position in Northern Oil and Gas in the 4th quarter worth approximately $601,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on NOG shares. Piper Sandler boosted their price target on Northern Oil and Gas from $30.00 to $31.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Morgan Stanley reduced their price objective 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. Royal Bank Of Canada reduced 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 note on Monday, July 14th. Mizuho reduced their price objective on Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 16th. Finally, Citigroup upped their price target on Northern Oil and Gas from $34.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $38.78.

Northern Oil and Gas Price Performance

NOG stock traded up $0.66 during midday trading on Tuesday, reaching $27.24. 291,891 shares of the stock were exchanged, compared to its average volume of 1,817,908. The stock has a market capitalization of $2.69 billion, a PE ratio of 4.24 and a beta of 1.50. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $44.31. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.92. The company has a fifty day moving average price of $29.08 and a 200 day moving average price of $30.36.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings results 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. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. The business had revenue of $602.10 million for the quarter, compared to the consensus estimate of $568.87 million. During the same period in the prior year, the business earned $1.28 EPS. The firm's revenue for the quarter was up 51.9% on a year-over-year basis. As a group, analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.61%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is presently 28.04%.

About Northern Oil and Gas

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.

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