AlphaQuest LLC Has $1.32 Million Position in Northern Oil and Gas, Inc. $NOG

Key Points

• AlphaQuest LLC increased its stake in Northern Oil and Gas, Inc. by 33.3%, bringing their total holdings to 43,576 shares valued at approximately $1.32 million.
• Analyst ratings for Northern Oil and Gas are mixed, showing a consensus of "Moderate Buy" with a target price of $36.89, despite varying opinions from firms like Citigroup and Morgan Stanley.
• The company reported strong quarterly earnings, exceeding expectations with an EPS of $1.37 and revenue of $706.81 million, indicating a 26% increase year-over-year.

AlphaQuest LLC boosted its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 33.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,576 shares of the company's stock after purchasing an additional 10,880 shares during the period. AlphaQuest LLC's holdings in Northern Oil and Gas were worth $1,317,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pinnacle Holdings LLC acquired a new stake in Northern Oil and Gas during the 1st quarter valued at $28,000. Signaturefd LLC grew its holdings in Northern Oil and Gas by 60.0% during the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company's stock valued at $33,000 after buying an additional 405 shares during the last quarter. Byrne Asset Management LLC grew its holdings in Northern Oil and Gas by 54.9% during the 1st quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock valued at $41,000 after buying an additional 483 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Northern Oil and Gas by 127.7% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock valued at $45,000 after buying an additional 835 shares during the last quarter. Finally, Headlands Technologies LLC grew its holdings in Northern Oil and Gas by 124.6% during the 1st quarter. Headlands Technologies LLC now owns 1,743 shares of the company's stock valued at $53,000 after buying an additional 967 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG traded up $0.13 on Friday, reaching $26.33. 283,419 shares of the company traded hands, compared to its average volume of 1,818,196. The company's 50 day moving average is $27.30 and its 200-day moving average is $27.91. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. Northern Oil and Gas, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $44.31. The stock has a market capitalization of $2.57 billion, a PE ratio of 4.34 and a beta of 1.55.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating 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 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 business earned $1.46 EPS. The company's revenue was up 26.0% on a year-over-year basis. As a group, analysts anticipate 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 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 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Monday, September 29th. Northern Oil and Gas's dividend payout ratio is 29.70%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NOG shares. Morgan Stanley cut Northern Oil and Gas from a "positive" rating to an "underweight" rating and decreased their price objective for the stock from $29.00 to $27.00 in a report on Monday, August 18th. William Blair began coverage on Northern Oil and Gas in a report on Monday. They issued an "outperform" rating for the company. Piper Sandler reiterated a "neutral" rating and set a $25.00 price objective (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. Bank of America boosted their price objective 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. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, five 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, Northern Oil and Gas presently has an average rating of "Moderate Buy" and a consensus price target of $36.89.

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.