Northern Trust Corp Decreases Stock Holdings in Northern Oil and Gas, Inc. $NOG

Key Points

• Northern Trust Corp reduced its holdings in Northern Oil and Gas, Inc. by 5.1%, owning approximately 1.18 million shares worth about $35.77 million as of the first quarter.
• Northern Oil and Gas recently reported quarterly earnings of $1.37 EPS, significantly surpassing expectations, and achieved a revenue of $706.81 million, up 26% year-over-year.
• The company announced a quarterly dividend of $0.45, which will be paid on October 31, representing an annual yield of 6.9% based on the current payout ratio of 29.70%.

Northern Trust Corp trimmed its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,183,500 shares of the company's stock after selling 63,073 shares during the quarter. Northern Trust Corp owned 1.20% of Northern Oil and Gas worth $35,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of NOG. Nuveen LLC bought a new stake in shares of Northern Oil and Gas during the 1st quarter valued at about $36,288,000. Dimensional Fund Advisors LP grew its position in Northern Oil and Gas by 30.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company's stock valued at $129,939,000 after buying an additional 1,001,493 shares during the period. American Century Companies Inc. increased its holdings 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 during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Northern Oil and Gas by 12.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,554,377 shares of the company's stock valued at $46,429,000 after buying an additional 173,092 shares during the last quarter. Finally, Gotham Asset Management LLC bought a new position in Northern Oil and Gas in the fourth quarter worth approximately $3,768,000. Institutional investors own 98.80% of the company's stock.

Analyst Upgrades and Downgrades

NOG has been the subject of a number of recent research reports. Mizuho cut their price objective on shares of 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. Bank of America boosted 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. Citigroup raised their price objective 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. William Blair assumed coverage on Northern Oil and Gas in a research report on Monday, August 25th. They set an "outperform" rating on the stock. Finally, Royal Bank Of Canada reduced their target price on shares of 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Northern Oil and Gas has a consensus rating of "Moderate Buy" and an average target price of $36.89.

Northern Oil and Gas Price Performance

Shares of Northern Oil and Gas stock traded up $0.35 on Thursday, hitting $26.00. 2,205,481 shares of the company traded hands, compared to its average volume of 1,600,901. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $44.31. The business has a 50-day simple moving average of $26.96 and a 200 day simple moving average of $27.60. 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 market capitalization of $2.54 billion, a P/E ratio of 4.29 and a beta of 1.67.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $706.81 million for the quarter, compared to the consensus estimate of $555.54 million. During the same period in the previous year, the firm posted $1.46 EPS. Northern Oil and Gas's revenue for the quarter was up 26.0% compared to the same quarter last year. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.9%. The ex-dividend date is Monday, September 29th. Northern Oil and Gas's dividend payout ratio (DPR) is currently 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.