LPL Financial LLC Has $2.36 Million Holdings in Northern Oil and Gas, Inc. $NOG

Key Points

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LPL Financial LLC increased its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 20.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 78,146 shares of the company's stock after purchasing an additional 13,377 shares during the period. LPL Financial LLC owned about 0.08% of Northern Oil and Gas worth $2,362,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its holdings in shares of Northern Oil and Gas by 25.3% in the first quarter. State of Alaska Department of Revenue now owns 97,025 shares of the company's stock valued at $2,932,000 after purchasing an additional 19,586 shares in the last quarter. Principal Financial Group Inc. raised its position in Northern Oil and Gas by 2.6% during the first quarter. Principal Financial Group Inc. now owns 494,508 shares of the company's stock valued at $14,949,000 after buying an additional 12,711 shares during the period. New York State Common Retirement Fund lifted its stake in Northern Oil and Gas by 1.9% in the 1st quarter. New York State Common Retirement Fund now owns 1,092,152 shares of the company's stock worth $33,016,000 after acquiring an additional 20,186 shares in the last quarter. Woodline Partners LP acquired a new stake in Northern Oil and Gas during the 4th quarter worth about $997,000. Finally, GAMMA Investing LLC grew its stake in Northern Oil and Gas by 2,067.5% during the 1st quarter. GAMMA Investing LLC now owns 45,950 shares of the company's stock valued at $1,520,000 after acquiring an additional 43,830 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Up 2.0%

Shares of NOG stock traded up $0.4750 on Thursday, hitting $23.7150. The company's stock had a trading volume of 2,120,700 shares, compared to its average volume of 1,836,887. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 3.91 and a beta of 1.55. Northern Oil and Gas, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $44.31. The firm's fifty day moving average price is $28.05 and its 200-day moving average price is $28.35. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.50. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%.The company had revenue of $706.81 million for the quarter, compared to analyst estimates of $555.54 million. During the same period last year, the company earned $1.46 earnings per share. The business's revenue was up 26.0% compared to the same quarter last year. Research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.6%. The ex-dividend date is Monday, September 29th. Northern Oil and Gas's payout ratio is 29.70%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Bank of America increased their price target on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Mizuho cut their target price 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. Raymond James Financial reissued a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Citigroup upped their price target on shares of 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. Finally, Piper Sandler reissued a "neutral" rating and set a $25.00 price objective (down previously from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $36.89.

Northern Oil and Gas 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.