Northern Oil and Gas, Inc. $NOG Holdings Raised by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Northern Oil and Gas by 5.9%, now owning 375,914 shares valued at approximately $11.36 million.
• Several institutional investors have also raised their holdings, resulting in 98.80% of the company's stock being owned by institutional investors and hedge funds.
• The company recently announced a quarterly dividend of $0.45 per share, translating to a 7.2% dividend yield for shareholders.

Hotchkis & Wiley Capital Management LLC lifted its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 5.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 375,914 shares of the company's stock after purchasing an additional 21,064 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.38% of Northern Oil and Gas worth $11,364,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in Northern Oil and Gas by 6.4% during the first quarter. American Century Companies Inc. now owns 6,953,377 shares of the company's stock valued at $210,201,000 after buying an additional 415,781 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Northern Oil and Gas by 30.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company's stock worth $129,939,000 after acquiring an additional 1,001,493 shares in the last quarter. Channing Capital Management LLC raised its holdings in shares of Northern Oil and Gas by 8.7% during the first quarter. Channing Capital Management LLC now owns 1,920,258 shares of the company's stock valued at $58,049,000 after acquiring an additional 153,635 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of Northern Oil and Gas by 2.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,636,938 shares of the company's stock valued at $49,485,000 after acquiring an additional 36,507 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Northern Oil and Gas by 12.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,554,377 shares of the company's stock valued at $46,429,000 after acquiring an additional 173,092 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Analysts Set New Price Targets

NOG has been the topic of several research analyst reports. Piper Sandler reiterated a "neutral" rating and set a $25.00 price objective (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. 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 report on Wednesday, July 9th. Bank of America lifted their price target on Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Royal Bank Of Canada dropped 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 report on Monday, July 14th. Finally, Mizuho decreased their price objective on Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Northern Oil and Gas presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.89.

Northern Oil and Gas Trading Up 5.7%

Northern Oil and Gas stock opened at $25.0640 on Friday. Northern Oil and Gas, Inc. has a 12 month low of $19.88 and a 12 month high of $44.31. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The stock has a market cap of $2.45 billion, a P/E ratio of 4.14 and a beta of 1.55. The company's fifty day simple moving average is $27.76 and its 200-day simple moving average is $28.13.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.50. The business had revenue of $706.81 million during the quarter, compared to analyst estimates of $555.54 million. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%.Northern Oil and Gas's quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the company earned $1.46 earnings per share. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a dividend of $0.45 per share. 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 dividend payout ratio (DPR) is 29.70%.

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.

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