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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in shares of Northern Oil and Gas by 60.0% during 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 boosted its stake in shares of 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 worth $41,000 after acquiring an additional 483 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of 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 worth $45,000 after acquiring an additional 835 shares in the last quarter. Headlands Technologies LLC boosted its stake in shares of Northern Oil and Gas by 124.6% during 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. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Northern Oil and Gas during the 1st quarter worth approximately $54,000. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Trading Up 1.6%

Shares of Northern Oil and Gas stock traded up $0.3640 during trading hours on Thursday, reaching $23.6040. 822,526 shares of the company's stock were exchanged, compared to its average volume of 1,828,321. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 3.89 and a beta of 1.55. The company has a fifty day moving average of $28.05 and a 200-day moving average of $28.35. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.50. The business had revenue of $706.81 million during 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 business's revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 EPS. Sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, September 29th. This represents a $1.80 annualized dividend and a dividend yield of 7.6%. Northern Oil and Gas's dividend payout ratio (DPR) is currently 29.70%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NOG shares. Piper Sandler reissued a "neutral" rating and set a $25.00 price target (down previously from $31.00) on shares of Northern Oil and Gas in a research note on Monday, August 4th. Royal Bank Of Canada decreased their price target on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating on the stock in a research note on Monday, July 14th. Mizuho decreased their price target on Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 16th. Raymond James Financial reissued a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Finally, Bank of America boosted their price target on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Northern Oil and Gas presently has a consensus rating of "Moderate Buy" and a consensus target price 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.