Northern Oil and Gas, Inc. (NYSE:NOG) Shares Purchased by Denali Advisors LLC

Denali Advisors LLC boosted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 120.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,360 shares of the company's stock after acquiring an additional 88,273 shares during the quarter. Denali Advisors LLC owned 0.16% of Northern Oil and Gas worth $4,878,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Northern Oil and Gas in the fourth quarter worth approximately $29,000. Signaturefd LLC raised its position in shares of Northern Oil and Gas by 60.0% during the first 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 raised its position in shares of Northern Oil and Gas by 54.9% during the first 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. boosted its position 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 valued at $45,000 after acquiring an additional 835 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Northern Oil and Gas during the 1st quarter valued at approximately $54,000. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Trading Down 1.1%

NOG stock traded down $0.29 during midday trading on Friday, hitting $27.24. 2,044,397 shares of the company's stock were exchanged, compared to its average volume of 1,615,180. The business has a 50-day simple moving average of $29.08 and a two-hundred day simple moving average of $30.45. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $2.69 billion, a PE ratio of 4.24 and a beta of 1.50. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.21. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. The business had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. During the same period last year, the business earned $1.28 EPS. The company's revenue was up 51.9% on a year-over-year basis. On average, sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, June 27th. This represents a $1.80 annualized dividend and a yield of 6.61%. Northern Oil and Gas's dividend payout ratio is presently 28.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NOG shares. 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 decreased their price target on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Piper Sandler raised their price target on Northern Oil and Gas from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Thursday. Mizuho decreased 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 note on Wednesday. Finally, Bank of America raised 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $38.78.

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.