NBC Securities Inc. Has $392,000 Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

NBC Securities Inc. raised its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 108,141.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,989 shares of the company's stock after acquiring an additional 12,977 shares during the quarter. NBC Securities Inc.'s holdings in Northern Oil and Gas were worth $392,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NOG. Smartleaf Asset Management LLC increased its position in Northern Oil and Gas by 297.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock worth $77,000 after purchasing an additional 1,570 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Northern Oil and Gas by 2.5% during the fourth quarter. Principal Financial Group Inc. now owns 481,797 shares of the company's stock worth $17,904,000 after buying an additional 11,690 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Northern Oil and Gas by 36.1% during the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company's stock worth $2,877,000 after buying an additional 20,550 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Northern Oil and Gas in the 4th quarter valued at $909,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Northern Oil and Gas by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,058,899 shares of the company's stock valued at $39,349,000 after acquiring an additional 73,256 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Up 2.8%

NYSE:NOG traded up $0.84 on Tuesday, reaching $30.65. 1,408,703 shares of the stock traded hands, compared to its average volume of 1,550,739. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $44.31. The company's 50 day moving average is $25.68 and its 200-day moving average is $32.30. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 5.96 and a beta of 1.51.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.21. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The company had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. During the same period in the prior year, the firm posted $1.28 EPS. The company's quarterly revenue was up 51.9% on a year-over-year basis. Equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Northern Oil and Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.80 dividend on an annualized basis and a yield of 5.87%. Northern Oil and Gas's payout ratio is currently 28.04%.

Analysts Set New Price Targets

NOG has been the subject of a number of recent research reports. 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. Mizuho lowered their price objective on Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Morgan Stanley dropped their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Royal Bank of Canada reduced their target price on shares of Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating on the stock in a report on Monday, April 14th. Finally, Citigroup decreased their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $39.67.

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.