GAMMA Investing LLC Boosts Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

GAMMA Investing LLC lifted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 2,067.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 45,950 shares of the company's stock after acquiring an additional 43,830 shares during the quarter. GAMMA Investing LLC's holdings in Northern Oil and Gas were worth $1,520,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. First Horizon Advisors Inc. lifted its holdings in shares of Northern Oil and Gas by 9.1% in the 4th quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company's stock worth $129,000 after acquiring an additional 289 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in Northern Oil and Gas by 2.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock valued at $487,000 after buying an additional 298 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in Northern Oil and Gas by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,378 shares of the company's stock valued at $386,000 after buying an additional 329 shares during the last quarter. Legato Capital Management LLC raised its holdings in Northern Oil and Gas by 5.8% during the 4th quarter. Legato Capital Management LLC now owns 6,383 shares of the company's stock valued at $237,000 after buying an additional 349 shares during the last quarter. Finally, Isthmus Partners LLC raised its holdings in Northern Oil and Gas by 0.9% during the 4th quarter. Isthmus Partners LLC now owns 48,354 shares of the company's stock valued at $1,797,000 after buying an additional 411 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Stock Down 0.9%

Shares of NYSE:NOG traded down $0.30 during midday trading on Wednesday, reaching $31.23. The company's stock had a trading volume of 2,741,627 shares, compared to its average volume of 1,580,731. The firm has a 50 day moving average of $26.72 and a 200-day moving average of $31.89. The firm has a market capitalization of $3.08 billion, a P/E ratio of 4.86 and a beta of 1.51. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.96. Northern Oil and Gas, Inc. has a 12-month low of $19.88 and a 12-month 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 EPS for the quarter, beating the consensus estimate 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 company had revenue of $602.10 million for the quarter, compared to the consensus estimate of $568.87 million. During the same period in the prior year, the firm posted $1.28 EPS. Northern Oil and Gas's revenue for the quarter was up 51.9% on a year-over-year basis. On average, research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas declared that its board has initiated a stock buyback plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

Analyst Upgrades and Downgrades

NOG has been the subject of a number of recent analyst reports. Bank of America upped their price target on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Raymond James Financial reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Mizuho lowered their price target on shares of Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Morgan Stanley lowered their price target on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Finally, Citigroup reduced their price objective on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Northern Oil and Gas has a consensus rating of "Hold" and an average price target of $39.67.

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.