Northern Oil and Gas, Inc. $NOG Shares Sold by Copeland Capital Management LLC

Key Points

• Copeland Capital Management LLC reduced its stake in Northern Oil and Gas by 8.2% during the 2nd quarter, holding 1,875,703 shares worth $53.2 million after selling 167,211 shares.
• Analysts have varied opinions on the stock, with Mizuho lowering its price target from $32.00 to $28.00 and maintaining a “neutral” rating, while William Blair initiated coverage with an “outperform” rating.
• Northern Oil and Gas recently declared a quarterly dividend of $0.45 per share, translating to an annualized dividend yield of 7.5%. The ex-dividend date is set for September 29th.

Copeland Capital Management LLC lessened its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 8.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,875,703 shares of the company's stock after selling 167,211 shares during the quarter. Copeland Capital Management LLC owned 1.90% of Northern Oil and Gas worth $53,176,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Signaturefd LLC raised 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 acquiring an additional 405 shares in the last quarter. Byrne Asset Management LLC boosted its position 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 worth $41,000 after purchasing an additional 483 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Northern Oil and Gas by 26.7% during the 1st quarter. Fifth Third Bancorp now owns 2,480 shares of the company's stock worth $75,000 after purchasing an additional 523 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Northern Oil and Gas by 133.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company's stock valued at $27,000 after purchasing an additional 545 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Northern Oil and Gas by 200.3% in the 2nd quarter. UMB Bank n.a. now owns 955 shares of the company's stock valued at $27,000 after purchasing an additional 637 shares during the period. Hedge funds and other institutional investors own 98.80% of the company's stock.

Wall Street Analyst Weigh In

NOG has been the topic of several analyst reports. Mizuho dropped their price target on shares of Northern Oil and Gas from $32.00 to $28.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. Morgan Stanley lowered shares of Northern Oil and Gas from a "positive" rating to an "underweight" rating and lowered their target price for the stock from $29.00 to $27.00 in a research note on Monday, August 18th. William Blair began coverage on Northern Oil and Gas in a research report on Monday, August 25th. They set an "outperform" rating on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $25.00 price target (down previously from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. Finally, Royal Bank Of Canada lowered 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.38.

Northern Oil and Gas Stock Down 2.3%

Shares of NYSE NOG opened at $24.10 on Friday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 3.98 and a beta of 1.61. The company's 50-day simple moving average is $25.63 and its 200-day simple moving average is $26.92. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.50. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The firm had revenue of $706.81 million during the quarter, compared to the consensus estimate of $555.54 million. During the same quarter in the prior year, the firm earned $1.46 EPS. The company's revenue for the quarter was up 26.0% on a year-over-year basis. Equities analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Monday, September 29th. Northern Oil and Gas's payout ratio is presently 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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