Northern Oil and Gas, Inc. (NYSE:NOG) Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Northern Oil and Gas (NYSE:NOG) by 6.4%, acquiring an additional 415,781 shares during the first quarter, bringing their total ownership to 6,953,377 shares valued at approximately $210.2 million.
• Several analysts have recently revised their ratings for Northern Oil and Gas, with Bank of America increasing its price target from $29.00 to $33.00 and rating it a "buy," while Citigroup raised its target from $34.00 to $38.00.
• Northern Oil and Gas announced a quarterly dividend of $0.45 per share, set to be paid on October 31st, yielding a total annualized dividend of $1.80 and a yield of 7.4%.

American Century Companies Inc. grew its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 6.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,953,377 shares of the company's stock after buying an additional 415,781 shares during the quarter. American Century Companies Inc. owned about 7.04% of Northern Oil and Gas worth $210,201,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Signaturefd LLC increased its stake in Northern Oil and Gas by 60.0% in the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company's stock valued at $33,000 after purchasing an additional 405 shares in the last quarter. Byrne Asset Management LLC increased its stake in 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 valued at $41,000 after purchasing an additional 483 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in 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 valued at $45,000 after purchasing an additional 835 shares in the last quarter. Headlands Technologies LLC increased its stake in Northern Oil and Gas by 124.6% in the 1st quarter. Headlands Technologies LLC now owns 1,743 shares of the company's stock valued at $53,000 after purchasing an additional 967 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Northern Oil and Gas in the 1st quarter valued at approximately $54,000. 98.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Bank of America raised their price objective on Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Royal Bank Of Canada dropped their price objective on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a research note on Monday, July 14th. Mizuho dropped their price target on 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. Finally, Citigroup raised their price target on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Northern Oil and Gas currently has an average rating of "Moderate Buy" and a consensus price target of $38.11.

Northern Oil and Gas Price Performance

NOG stock opened at $24.42 on Friday. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31. The stock's fifty day simple moving average is $28.48 and its 200-day simple moving average is $28.63. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 4.03 and a beta of 1.55.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.50. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%. The business had revenue of $706.81 million for the quarter, compared to analysts' expectations of $555.54 million. During the same quarter last year, the firm earned $1.46 earnings per share. The business's revenue was up 26.0% on a year-over-year basis. Equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 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 31st. Shareholders of record on Monday, 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 7.4%. The ex-dividend date is Monday, September 29th. Northern Oil and Gas's payout ratio is currently 29.70%.

About Northern Oil and Gas

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.

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