Jump Financial LLC Trims Holdings in Northern Oil and Gas, Inc. $NOG

Key Points

• Jump Financial LLC reduced its stake in Northern Oil and Gas, Inc. by 58.6% in Q1, owning approximately $2.16 million worth of shares after selling over 100,000 shares.
• Several large investors increased their positions in Northern Oil and Gas during the same period, with institutional investors owning 98.80% of the company's stock.
• Northern Oil and Gas reported strong quarterly earnings, with a profit of $1.37 per share, significantly exceeding analyst expectations of $0.87.

Jump Financial LLC cut its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 58.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,547 shares of the company's stock after selling 101,305 shares during the quarter. Jump Financial LLC owned about 0.07% of Northern Oil and Gas worth $2,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its holdings in shares of Northern Oil and Gas by 9.7% during the 4th quarter. Marshall Wace LLP now owns 9,540 shares of the company's stock worth $355,000 after acquiring an additional 840 shares during the period. Tower Research Capital LLC TRC increased its position in Northern Oil and Gas by 187.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,347 shares of the company's stock worth $87,000 after purchasing an additional 1,530 shares during the last quarter. State of Tennessee Department of Treasury increased its position in Northern Oil and Gas by 16.5% during the fourth quarter. State of Tennessee Department of Treasury now owns 26,892 shares of the company's stock worth $999,000 after purchasing an additional 3,805 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Northern Oil and Gas by 11.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 67,746 shares of the company's stock worth $2,518,000 after purchasing an additional 6,989 shares during the period. Finally, Aquatic Capital Management LLC boosted its holdings in shares of Northern Oil and Gas by 453.8% in the 4th quarter. Aquatic Capital Management LLC now owns 38,210 shares of the company's stock valued at $1,420,000 after purchasing an additional 31,310 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

Wall Street Analyst Weigh In

NOG has been the subject of a number of research analyst reports. Royal Bank Of Canada dropped their price objective on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a report on Monday, July 14th. Piper Sandler reissued a "neutral" rating and set a $25.00 price target (down previously from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. Citigroup upped their price target on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Mizuho dropped their price objective on shares of 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 target price on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.89.

Northern Oil and Gas Stock Up 2.2%

Shares of NOG traded up $0.58 during mid-day trading on Tuesday, reaching $26.74. 1,344,222 shares of the stock traded hands, compared to its average volume of 1,626,002. The stock has a fifty day simple moving average of $27.09 and a 200 day simple moving average of $27.67. Northern Oil and Gas, Inc. has a 12-month low of $19.88 and a 12-month high of $44.31. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 4.41 and a beta of 1.67.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $706.81 million during the quarter, compared to analyst estimates of $555.54 million. During the same period last year, the business earned $1.46 EPS. The business's revenue was up 26.0% on a year-over-year basis. Sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Monday, September 29th. Northern Oil and Gas's payout ratio 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.