MetLife Investment Management LLC Has $2.64 Million Stock Position in Northern Oil and Gas, Inc. $NOG

Key Points

• MetLife Investment Management LLC increased its stake in Northern Oil and Gas by 45.7%, holding a total of 87,154 shares valued at approximately $2.6 million after acquiring additional shares in Q1.
• Northern Oil and Gas reported an EPS of $1.37 for the last quarter, exceeding analysts' expectations, with a revenue increase of 26.0% year-over-year, reaching $706.81 million.
• The company declared a quarterly dividend of $0.45, yielding 6.9% annually, which will be paid to shareholders on October 31st.

MetLife Investment Management LLC raised its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 45.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 87,154 shares of the company's stock after buying an additional 27,336 shares during the period. MetLife Investment Management LLC owned about 0.09% of Northern Oil and Gas worth $2,635,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in NOG. Pinnacle Holdings LLC acquired a new position in shares of Northern Oil and Gas in the 1st quarter valued at $28,000. Signaturefd LLC lifted its stake in shares of Northern Oil and Gas by 60.0% in the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company's stock valued at $33,000 after purchasing an additional 405 shares during the period. Byrne Asset Management LLC lifted its stake in shares of Northern Oil and Gas by 54.9% in the 1st quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock valued at $41,000 after purchasing an additional 483 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Northern Oil and Gas by 127.7% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock valued at $45,000 after purchasing an additional 835 shares during the period. Finally, Headlands Technologies LLC lifted its stake in shares of Northern Oil and Gas by 124.6% in the 1st quarter. Headlands Technologies LLC now owns 1,743 shares of the company's stock valued at $53,000 after purchasing an additional 967 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NOG. Royal Bank Of Canada cut their price target 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. Citigroup raised their price objective 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. Piper Sandler reaffirmed 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 note on Monday, August 4th. Bank of America raised their price objective on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, William Blair began coverage on Northern Oil and Gas in a research note on Monday, August 25th. They set an "outperform" rating on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Northern Oil and Gas currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.89.

Northern Oil and Gas Stock Up 1.6%

Shares of NOG traded up $0.40 during midday trading on Thursday, hitting $26.05. The stock had a trading volume of 989,614 shares, compared to its average volume of 1,812,170. The company has a 50 day simple moving average of $27.02 and a two-hundred day simple moving average of $27.66. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 4.30 and a beta of 1.67. 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 released its quarterly earnings results on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) 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 firm had revenue of $706.81 million for the quarter, compared to the consensus estimate of $555.54 million. During the same quarter last year, the business posted $1.46 EPS. The company's revenue for the quarter was up 26.0% on a year-over-year basis. On average, analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.80 annualized dividend and a dividend yield of 6.9%. Northern Oil and Gas's dividend payout ratio (DPR) is currently 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.