Northern Oil and Gas, Inc. $NOG Stock Holdings Lifted by Easterly Investment Partners LLC

Key Points

• Easterly Investment Partners LLC increased its stake in Northern Oil and Gas by 32.7% in the fourth quarter, buying 46,136 additional shares and bringing its total holdings to 187,146 shares worth about $4.0 million.
• Northern Oil and Gas reported quarterly EPS of $0.74, beating analyst expectations of $0.71, though revenue fell 6.2% year over year and came in well below expectations.
• The company declared a quarterly dividend of $0.45 per share, equal to an annualized yield of 8.3%, while analysts currently rate the stock a consensus Hold with a $33 target price.

Easterly Investment Partners LLC raised its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 32.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,146 shares of the company's stock after purchasing an additional 46,136 shares during the quarter. Easterly Investment Partners LLC owned approximately 0.19% of Northern Oil and Gas worth $4,018,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its stake in Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company's stock valued at $33,000 after purchasing an additional 713 shares in the last quarter. Global Retirement Partners LLC grew its stake in Northern Oil and Gas by 572.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,682 shares of the company's stock valued at $36,000 after purchasing an additional 1,432 shares in the last quarter. Plato Investment Management Ltd purchased a new position in Northern Oil and Gas in the fourth quarter valued at about $43,000. EverSource Wealth Advisors LLC grew its stake in Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company's stock valued at $43,000 after purchasing an additional 1,228 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Northern Oil and Gas by 85.7% in the second quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company's stock valued at $44,000 after purchasing an additional 702 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Stock Performance

NOG opened at $21.74 on Monday. The company has a market cap of $2.30 billion, a PE ratio of -3.41 and a beta of 0.68. The stock has a 50-day moving average of $26.15 and a 200-day moving average of $24.80. Northern Oil and Gas, Inc. has a 52-week low of $20.18 and a 52-week high of $32.62. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.53.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The business had revenue of $5.03 million during the quarter, compared to analysts' expectations of $511.38 million. During the same quarter in the previous year, the firm earned $1.33 EPS. The firm's revenue was down 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Northern Oil and Gas, Inc. will post 3.37 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors 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 8.3%. The ex-dividend date of this dividend is Monday, June 29th. Northern Oil and Gas's payout ratio is currently -28.26%.

Wall Street Analyst Weigh In

A number of research analysts have commented on NOG shares. Weiss Ratings downgraded Northern Oil and Gas from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, May 4th. Royal Bank Of Canada boosted their target price on Northern Oil and Gas from $30.00 to $35.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 8th. Johnson Rice downgraded Northern Oil and Gas from an "accumulate" rating to a "hold" rating and set a $36.00 target price on the stock. in a research note on Wednesday, May 20th. Piper Sandler upped their price target on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, March 12th. Finally, Citigroup decreased their price target on Northern Oil and Gas from $39.00 to $36.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Northern Oil and Gas presently has an average rating of "Hold" and a consensus target price of $33.00.

About Northern Oil and Gas

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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