Northern Oil and Gas, Inc. $NOG Stock Holdings Lifted by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds increased its Northern Oil and Gas position by 3,057% in the third quarter, adding 413,486 shares to hold 427,012 shares worth approximately $9.77 million. Institutional investors collectively own 98.8% of NOG.
• Analyst sentiment remains mixed: Citigroup raised its target to $32 with a Buy rating, while Raymond James set a $31 Outperform target; however, the consensus rating is Hold with an average price target of $31.22.
• NOG reported quarterly revenue of $745.24 million, exceeding estimates, though EPS of $1.13 fell short of expectations. The company also declared a quarterly dividend of $0.45 per share, representing a 6.6% annualized yield.

Counterpoint Mutual Funds LLC grew its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 3,057.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 427,012 shares of the company's stock after buying an additional 413,486 shares during the quarter. Northern Oil and Gas accounts for approximately 0.8% of Counterpoint Mutual Funds LLC's holdings, making the stock its 21st biggest holding. Counterpoint Mutual Funds LLC owned 0.40% of Northern Oil and Gas worth $9,770,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NOG. Triumph Capital Management grew its stake in Northern Oil and Gas by 77.8% in the 3rd quarter. Triumph Capital Management now owns 1,600 shares of the company's stock valued at $37,000 after acquiring an additional 700 shares during the last quarter. GAMMA Investing LLC raised its position in Northern Oil and Gas by 18.5% during the third quarter. GAMMA Investing LLC now owns 4,015 shares of the company's stock worth $92,000 after acquiring an additional 628 shares during the last quarter. Farther Finance Advisors LLC raised its position in Northern Oil and Gas by 41.2% during the third quarter. Farther Finance Advisors LLC now owns 1,751 shares of the company's stock worth $40,000 after acquiring an additional 511 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Northern Oil and Gas by 23.4% in the second quarter. The Manufacturers Life Insurance Company now owns 50,521 shares of the company's stock valued at $917,000 after purchasing an additional 9,594 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Northern Oil and Gas in the second quarter valued at about $279,000. Institutional investors and hedge funds own 98.80% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NOG shares. Raymond James Financial restated an "outperform" rating and issued a $31.00 price objective (up from $28.00) on shares of Northern Oil and Gas in a research report on Thursday, September 10th. Citigroup raised their target price on shares of Northern Oil and Gas from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Thursday. Wall Street Zen raised shares of Northern Oil and Gas from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Mizuho lifted their target price on shares of Northern Oil and Gas from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Scotiabank assumed coverage on Northern Oil and Gas in a report on Wednesday. They issued a "sector perform" rating and a $27.00 price target for the company. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $31.22.

Northern Oil and Gas Trading Up 5.6%

Shares of NOG stock opened at $27.19 on Friday. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -5.25 and a beta of 0.90. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. Northern Oil and Gas, Inc. has a fifty-two week low of $17.18 and a fifty-two week high of $31.17. The firm's 50 day moving average price is $25.18 and its two-hundred day moving average price is $23.56.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.05). Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%. The business had revenue of $745.24 million during the quarter, compared to analyst estimates of $594.09 million. During the same period in the previous year, the company earned $1.37 EPS. Northern Oil and Gas's revenue was up 5.4% on a year-over-year basis. On average, analysts anticipate that Northern Oil and Gas, Inc. will post 3.82 EPS for the current year.

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Tuesday, September 29th. Northern Oil and Gas's payout ratio is currently -34.75%.

More Northern Oil and Gas News

Here are the key news stories impacting Northern Oil and Gas this week:

• Positive Sentiment: Zacks upgraded NOG to Rank #2 (Buy), citing growing optimism about the company’s earnings prospects. Because the Zacks system emphasizes earnings estimates and revisions, the upgrade may attract additional momentum-oriented investors. What Makes Northern Oil and Gas a New Buy Stock
• Positive Sentiment: Citigroup raised its NOG price target from $28 to $32 and maintained a Buy rating. The higher target implies meaningful upside from the recently cited $27.19 reference price and provides a strong near-term catalyst. Read More
• Positive Sentiment: Mizuho lifted its price target to $30 and was described as forecasting strong appreciation for NOG. The revision adds to the group of analysts signaling further potential upside. Mizuho lifts target for Northern Oil and Gas stock to USD 30.00
• Neutral Sentiment: Scotiabank initiated coverage with a Sector Perform rating, signaling a view that NOG should broadly track its industry rather than materially outperform it. Scotiabank Initiates Northern Oil and Gas at Sector Perform
• Neutral Sentiment: RBC Capital assigned NOG a Hold rating, tempering the more bullish calls and highlighting continued analyst disagreement over the stock’s valuation and outlook. Northern Oil and Gas Receives a Hold from RBC Capital
• Neutral Sentiment: A separate Zacks review examined NOG’s value, growth and momentum characteristics but did not identify a major new operating development or change in fundamentals. Should Value Investors Buy Northern Oil and Gas Stock?

About Northern Oil and Gas

Northern Oil and Gas, Inc is an independent energy company engaged in the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids in the United States. The company primarily holds non-operated working interests in wells, allowing it to participate in hydrocarbon development without serving as the principal operator.

Northern Oil and Gas has built a diversified portfolio across several major U.S. oil and natural gas regions, including the Williston Basin, the Permian Basin and the Appalachian Basin.

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