Northern Oil and Gas, Inc. $NOG Holdings Lifted by Aptus Capital Advisors LLC

Key Points

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Aptus Capital Advisors LLC increased its holdings 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 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,016 shares of the company's stock after acquiring an additional 29,164 shares during the period. 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.

Other institutional investors have also recently bought and sold shares of the company. Pinnacle Holdings LLC acquired a new position in shares of Northern Oil and Gas in the 1st quarter valued at about $28,000. Signaturefd LLC grew its position in Northern Oil and Gas by 60.0% during the first quarter. Signaturefd LLC now owns 1,080 shares of the company's stock valued at $33,000 after purchasing an additional 405 shares in the last quarter. Byrne Asset Management LLC increased its stake in 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 buying an additional 483 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in 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 worth $45,000 after buying an additional 835 shares in the last quarter. Finally, Headlands Technologies LLC lifted its position in Northern Oil and Gas by 124.6% in the 1st quarter. Headlands Technologies LLC now owns 1,743 shares of the company's stock worth $53,000 after buying an additional 967 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NOG shares. Raymond James Financial restated a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Royal Bank Of Canada lowered 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 research note on Monday, July 14th. Morgan Stanley downgraded Northern Oil and Gas from a "positive" rating to an "underweight" rating and cut their price target for the stock from $29.00 to $27.00 in a research note on Monday. Piper Sandler reiterated a "neutral" rating and set a $25.00 price target (down from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. Finally, Citigroup increased their price objective 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $36.89.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG opened at $23.79 on Tuesday. The business's 50-day simple moving average is $28.36 and its 200-day simple moving average is $28.42. 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 firm has a market cap of $2.32 billion, a price-to-earnings ratio of 3.93 and a beta of 1.55.

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 (EPS) for the quarter, topping 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 firm had revenue of $706.81 million during the quarter, compared to analysts' expectations of $555.54 million. During the same quarter in the prior year, the business earned $1.46 earnings per share. The company's revenue was up 26.0% on a year-over-year basis. As a group, equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a $0.45 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 7.6%. Northern Oil and Gas's dividend payout ratio (DPR) is presently 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.

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