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

Key Points

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LPL Financial LLC lifted its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 20.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,146 shares of the company's stock after buying 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 quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Signaturefd LLC raised its holdings in Northern Oil and Gas by 60.0% during the first quarter. Signaturefd LLC now owns 1,080 shares of the company's stock worth $33,000 after acquiring an additional 405 shares in the last quarter. Van Den Berg Management I Inc. raised its holdings in Northern Oil and Gas by 1.2% during the fourth 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. Byrne Asset Management LLC raised its holdings in Northern Oil and Gas by 54.9% during the first quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock worth $41,000 after acquiring an additional 483 shares in the last quarter. Fifth Third Bancorp raised its holdings in Northern Oil and Gas by 26.7% during the first quarter. Fifth Third Bancorp now owns 2,480 shares of the company's stock worth $75,000 after acquiring an additional 523 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Northern Oil and Gas by 127.7% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock worth $45,000 after acquiring an additional 835 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NOG has been the topic of several analyst reports. Piper Sandler reiterated a "neutral" rating and set a $25.00 target price (down previously from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. Royal Bank Of Canada dropped their target price on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating on the stock in a report on Monday, July 14th. Bank of America upped their target price on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Citigroup upped their target price on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $36.89.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG traded up $1.3440 during trading hours on Friday, reaching $25.0640. 1,873,946 shares of the stock were exchanged, compared to its average volume of 1,934,318. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 4.14 and a beta of 1.55. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $44.31. The stock's fifty day simple moving average is $27.76 and its 200 day simple moving average is $28.13.

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

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, September 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.2%. Northern Oil and Gas's dividend payout ratio (DPR) is 29.70%.

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.