Quantbot Technologies LP Cuts Holdings in Northern Oil and Gas, Inc. $NOG

Key Points

• Quantbot Technologies LP reduced its stake in Northern Oil and Gas by 64.2% in the first quarter, now holding 46,307 shares valued at approximately $1.4 million.
• Northern Oil and Gas reported a profit of $1.37 EPS for the last quarter, exceeding expectations by $0.50, with revenues reaching $706.81 million.
• The company announced a quarterly dividend of $0.45 per share, representing a 7.2% yield, with a payout ratio of 29.7%.

Quantbot Technologies LP decreased its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 64.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,307 shares of the company's stock after selling 83,197 shares during the period. Quantbot Technologies LP's holdings in Northern Oil and Gas were worth $1,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOG. Pinnacle Holdings LLC bought a new position in Northern Oil and Gas during the 1st quarter valued at approximately $28,000. Signaturefd LLC raised its position in shares of Northern Oil and Gas by 60.0% in the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company's stock worth $33,000 after acquiring an additional 405 shares in the last quarter. Byrne Asset Management LLC raised its position in shares of 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 acquiring an additional 483 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Northern Oil and Gas by 127.7% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock worth $45,000 after acquiring an additional 835 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in shares of Northern Oil and Gas by 124.6% in the 1st quarter. Headlands Technologies LLC now owns 1,743 shares of the company's stock worth $53,000 after acquiring an additional 967 shares in the last quarter. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Stock Up 0.7%

Shares of Northern Oil and Gas stock traded up $0.18 during midday trading on Thursday, hitting $25.94. The company had a trading volume of 249,702 shares, compared to its average volume of 1,822,596. 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 $2.53 billion, a P/E ratio of 4.27 and a beta of 1.55. The company has a 50 day moving average of $27.40 and a 200 day moving average of $27.98. 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 posted 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. The company had revenue of $706.81 million for the quarter, compared to the consensus estimate of $555.54 million. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%.The firm's quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 EPS. On average, equities analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid 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%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOG. William Blair began coverage on Northern Oil and Gas in a research report on Monday. They issued an "outperform" rating for the company. Bank of America increased their target price on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Raymond James Financial reissued a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Morgan Stanley lowered Northern Oil and Gas from a "positive" rating to an "underweight" rating and decreased their target price for the stock from $29.00 to $27.00 in a research report on Monday, August 18th. Finally, Royal Bank Of Canada decreased their target price on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Northern Oil and Gas currently has an average rating of "Moderate Buy" and a consensus price target of $36.89.

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.