NBC Securities Inc. Grows Stock Holdings 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 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,989 shares of the company's stock after buying an additional 12,977 shares during the period. NBC Securities Inc.'s holdings in Northern Oil and Gas were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in NOG. Janney Montgomery Scott LLC boosted its position in Northern Oil and Gas by 17.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 9,743 shares of the company's stock valued at $362,000 after buying an additional 1,461 shares during the period. Blue Trust Inc. boosted its position in Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock valued at $44,000 after buying an additional 801 shares during the period. State of Alaska Department of Revenue lifted its stake in Northern Oil and Gas by 36.1% in the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company's stock worth $2,877,000 after acquiring an additional 20,550 shares during the period. Entropy Technologies LP lifted its stake in Northern Oil and Gas by 68.5% in the fourth quarter. Entropy Technologies LP now owns 18,868 shares of the company's stock worth $701,000 after acquiring an additional 7,668 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Northern Oil and Gas by 1.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,381,285 shares of the company's stock worth $52,102,000 after acquiring an additional 21,754 shares during the period. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $28.75 on Friday. The company has a market capitalization of $2.84 billion, a PE ratio of 5.59 and a beta of 1.51. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The company has a 50-day simple moving average of $25.60 and a two-hundred day simple moving average of $32.54. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $602.10 million for the quarter, compared to the consensus estimate of $568.87 million. During the same quarter in the prior year, the company posted $1.28 earnings per share. The company's revenue for the quarter was up 51.9% compared to the same quarter last year. Research analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas declared that its board has initiated a stock buyback plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, June 27th. This represents a $1.80 annualized dividend and a dividend yield of 6.26%. Northern Oil and Gas's dividend payout ratio (DPR) is currently 28.04%.

Analysts Set New Price Targets

A number of analysts recently weighed in on NOG shares. Mizuho lowered their price objective on shares of 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. Royal Bank of Canada lowered their price objective on shares of Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating for the company in a research note on Monday, April 14th. Capital One Financial lowered shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 21st. Raymond James reaffirmed a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Finally, Citigroup lowered their price objective on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Northern Oil and Gas has an average rating of "Hold" and an average target price of $39.67.

About Northern Oil and Gas

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.

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