Northern Oil and Gas, Inc. $NOG Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 64.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 467,493 shares of the company's stock after selling 830,404 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.44% of Northern Oil and Gas worth $12,903,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC grew its position in Northern Oil and Gas by 14.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,092 shares of the company's stock worth $66,000 after acquiring an additional 400 shares during the period. SBI Securities Co. Ltd. raised its position in Northern Oil and Gas by 18.8% in the fourth quarter. SBI Securities Co. Ltd. now owns 3,207 shares of the company's stock valued at $69,000 after purchasing an additional 507 shares during the period. Virtus Investment Advisers LLC lifted its stake in shares of Northern Oil and Gas by 8.4% in the 4th quarter. Virtus Investment Advisers LLC now owns 7,394 shares of the company's stock valued at $159,000 after purchasing an additional 572 shares during the last quarter. Isthmus Partners LLC lifted its stake in shares of Northern Oil and Gas by 0.8% in the 1st quarter. Isthmus Partners LLC now owns 82,358 shares of the company's stock valued at $2,407,000 after purchasing an additional 619 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of Northern Oil and Gas by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 91,485 shares of the company's stock worth $1,963,000 after purchasing an additional 633 shares during the period. Hedge funds and other institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Trading Up 3.3%

Shares of NYSE NOG opened at $21.91 on Wednesday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $2.38 billion, a PE ratio of -3.44 and a beta of 0.69. Northern Oil and Gas, Inc. has a twelve month low of $17.18 and a twelve month high of $31.17. The stock has a fifty day simple moving average of $20.80 and a 200-day simple moving average of $24.14.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $5.03 million for the quarter, compared to analyst estimates of $511.38 million. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.Northern Oil and Gas's revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. On average, equities analysts forecast that Northern Oil and Gas, Inc. will post 3.48 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, June 29th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.2%. The ex-dividend date of this dividend is Monday, June 29th. Northern Oil and Gas's dividend payout ratio is currently -28.26%.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, Director Bahram Akradi acquired 25,760 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average price of $19.40 per share, for a total transaction of $499,744.00. Following the completion of the acquisition, the director owned 1,713,444 shares of the company's stock, valued at approximately $33,240,813.60. This trade represents a 1.53% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

NOG has been the topic of several research analyst reports. Royal Bank Of Canada boosted their price objective on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the company a "sector perform" rating in a report on Wednesday, April 8th. Citigroup lowered their target price on shares of Northern Oil and Gas from $36.00 to $28.00 and set a "buy" rating for the company in a research note on Monday. Wall Street Zen cut shares of Northern Oil and Gas from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Johnson Rice downgraded shares of Northern Oil and Gas from an "accumulate" rating to a "hold" rating and set a $36.00 price target on the stock. in a research note on Wednesday, May 20th. Finally, Bank of America upped their price objective on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Northern Oil and Gas currently has an average rating of "Hold" and a consensus target price of $30.62.

Northern Oil and Gas Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company's primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.

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