Jupiter Topco LLC Invests $756,000 in Northern Oil and Gas, Inc. $NOG

Key Points

• Jupiter Topco LLC acquired 41,620 shares of Northern Oil and Gas valued at approximately $756,000 during the second quarter. Institutional investors collectively own 98.8% of the company.
• Northern Oil and Gas reported quarterly revenue of $745.2 million, exceeding estimates, but adjusted earnings of $1.13 per share missed expectations of $1.18. Analysts maintain a consensus “Hold” rating with an average price target of $30.62.
• The company declared a quarterly dividend of $0.45 per share, or $1.80 annually, representing a 6.9% yield based on the reported share price.

Jupiter Topco LLC purchased a new stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 41,620 shares of the company's stock, valued at approximately $756,000.

Several other institutional investors also recently bought and sold shares of the business. Kennedy Capital Management LLC lifted its holdings in shares of Northern Oil and Gas by 17.0% during the 4th quarter. Kennedy Capital Management LLC now owns 884,006 shares of the company's stock valued at $18,980,000 after acquiring an additional 128,545 shares in the last quarter. Easterly Investment Partners LLC increased its holdings in Northern Oil and Gas by 32.7% in the 4th quarter. Easterly Investment Partners LLC now owns 187,146 shares of the company's stock valued at $4,018,000 after purchasing an additional 46,136 shares in the last quarter. Vanguard Group Inc. raised its position in Northern Oil and Gas by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 10,873,455 shares of the company's stock valued at $233,453,000 after purchasing an additional 141,499 shares during the period. Collar Capital Management LLC purchased a new position in Northern Oil and Gas in the fourth quarter valued at about $2,877,000. Finally, Bank of America Corp DE lifted its stake in shares of Northern Oil and Gas by 18.5% during the first quarter. Bank of America Corp DE now owns 1,245,639 shares of the company's stock worth $36,410,000 after purchasing an additional 194,861 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Mizuho upgraded Northern Oil and Gas to a "hold" rating in a research note on Friday, July 31st. Wall Street Zen raised Northern Oil and Gas from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Morgan Stanley set a $25.00 price target on Northern Oil and Gas and gave the stock an "underweight" rating in a report on Monday, June 29th. Citigroup lowered their price objective on shares of Northern Oil and Gas from $36.00 to $28.00 and set a "buy" rating for the company in a research report on Monday, July 20th. Finally, Weiss Ratings upgraded shares of Northern Oil and Gas from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $30.62.

Northern Oil and Gas Stock Up 0.0%

Shares of Northern Oil and Gas stock opened at $25.93 on Monday. Northern Oil and Gas, Inc. has a 1-year low of $17.18 and a 1-year high of $31.17. The company has a market capitalization of $2.76 billion, a PE ratio of -5.01 and a beta of 0.73. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50-day moving average of $22.24 and a 200-day moving average of $24.20.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.05). The business had revenue of $745.24 million during the quarter, compared to analyst estimates of $594.09 million. Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%.The company's revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 EPS. As a group, equities analysts forecast that Northern Oil and Gas, Inc. will post 3.79 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 Friday, October 30th. Shareholders of record on Tuesday, September 29th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Tuesday, September 29th. Northern Oil and Gas's dividend payout ratio is presently -34.75%.

Insider Activity

In other Northern Oil and Gas news, Director Bahram Akradi bought 25,760 shares of Northern Oil and Gas stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $19.40 per share, for a total transaction of $499,744.00. Following the purchase, the director owned 1,713,444 shares in the company, valued at $33,240,813.60. This represents a 1.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.80% of the stock is currently owned by insiders.

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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