Aptus Capital Advisors LLC Grows Stock Position in Northern Oil and Gas, Inc. $NOG

Key Points

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Aptus Capital Advisors LLC lifted its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 262,016 shares of the company's stock after purchasing an additional 29,164 shares during the quarter. Aptus Capital Advisors LLC owned about 0.27% of Northern Oil and Gas worth $7,921,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NOG. Mariner LLC increased its holdings in shares of Northern Oil and Gas by 8.6% in the fourth quarter. Mariner LLC now owns 24,746 shares of the company's stock valued at $920,000 after purchasing an additional 1,950 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Northern Oil and Gas by 9.7% in the fourth quarter. Marshall Wace LLP now owns 9,540 shares of the company's stock valued at $355,000 after purchasing an additional 840 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Northern Oil and Gas by 17.0% in the fourth quarter. First Trust Advisors LP now owns 492,362 shares of the company's stock valued at $18,296,000 after purchasing an additional 71,545 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Northern Oil and Gas by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,296,886 shares of the company's stock valued at $122,507,000 after purchasing an additional 68,631 shares during the last quarter. Finally, Natixis acquired a new stake in shares of Northern Oil and Gas in the fourth quarter valued at approximately $7,503,000. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Trading Up 5.7%

Shares of NOG traded up $1.3440 during midday trading on Friday, hitting $25.0640. 1,873,946 shares of the stock were exchanged, compared to its average volume of 1,946,807. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a fifty day simple moving average of $27.76 and a 200 day simple moving average of $28.08. The firm has a market cap of $2.45 billion, a P/E ratio of 4.14 and a beta of 1.55.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $706.81 million during the quarter, compared to analysts' expectations of $555.54 million. During the same period in the previous year, the firm posted $1.46 earnings per share. The company's revenue was up 26.0% on a year-over-year basis. On average, research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 7.2%. Northern Oil and Gas's payout ratio is presently 29.70%.

Analyst Ratings Changes

Several research firms recently commented 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 for the company in a report on Monday, July 14th. Piper Sandler reissued a "neutral" rating and set a $25.00 target price (down previously from $31.00) on shares of Northern Oil and Gas in a research note on Monday, August 4th. Mizuho cut their target price on Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Citigroup raised their target price 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. Finally, Bank of America raised their target price 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. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.