Motley Fool Asset Management LLC Acquires 14,945 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Key Points

• Motley Fool Asset Management LLC increased its stake in Northern Oil and Gas, with 85,483 shares after buying an additional 14,945 shares, representing a 21.2% boost in their investment.
• Northern Oil and Gas recently declared a quarterly dividend of $0.45 per share, scheduled for payment on October 31st, yielding 7.5% annually.
• The company reported significant financial performance, with earnings per share of $1.37, exceeding estimates by $0.50, and a revenue of $706.81 million for the last quarter.

Motley Fool Asset Management LLC increased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 21.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,483 shares of the company's stock after acquiring an additional 14,945 shares during the period. Motley Fool Asset Management LLC owned about 0.09% of Northern Oil and Gas worth $2,584,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NOG. Signaturefd LLC raised its stake in Northern Oil and Gas by 60.0% in 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 period. Byrne Asset Management LLC increased its holdings 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 during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised 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 acquiring an additional 835 shares during the period. Headlands Technologies LLC lifted 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 purchasing an additional 967 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of Northern Oil and Gas during the 1st quarter worth about $54,000. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Price Performance

NYSE:NOG traded down $0.48 on Friday, hitting $24.34. The company had a trading volume of 931,038 shares, compared to its average volume of 1,831,501. The firm has a 50 day moving average of $28.56 and a two-hundred day moving average of $28.72. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 4.02 and a beta of 1.55. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $44.31. 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 issued its earnings results on Thursday, July 31st. The company reported $1.37 earnings per share (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 analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 EPS. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.80 annualized dividend and a dividend yield of 7.4%. Northern Oil and Gas's dividend payout ratio is presently 29.70%.

Analysts Set New Price Targets

A number of research analysts have commented on NOG shares. Bank of America upped their price objective on Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Citigroup increased their target price on shares of 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. Royal Bank Of Canada dropped their price target on shares of Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a research report on Monday, July 14th. 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 report on Monday, August 4th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.11.

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.