Nisa Investment Advisors LLC Grows Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Nisa Investment Advisors LLC boosted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 155.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,496 shares of the company's stock after purchasing an additional 10,039 shares during the quarter. Nisa Investment Advisors LLC's holdings in Northern Oil and Gas were worth $506,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Northern Oil and Gas by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company's stock valued at $418,916,000 after purchasing an additional 166,501 shares in the last quarter. American Century Companies Inc. boosted its holdings in Northern Oil and Gas by 3.9% in the fourth quarter. American Century Companies Inc. now owns 6,537,596 shares of the company's stock valued at $242,937,000 after purchasing an additional 243,531 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Northern Oil and Gas by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,296,886 shares of the company's stock valued at $122,507,000 after purchasing an additional 68,631 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Northern Oil and Gas by 12.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,554,377 shares of the company's stock valued at $46,429,000 after purchasing an additional 173,092 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Northern Oil and Gas by 9.2% in the fourth quarter. Northern Trust Corp now owns 1,246,573 shares of the company's stock valued at $46,323,000 after purchasing an additional 104,854 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG traded up $0.62 during mid-day trading on Thursday, hitting $27.55. 2,818,666 shares of the company were exchanged, compared to its average volume of 1,608,096. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.96. The stock has a 50 day simple moving average of $29.04 and a 200-day simple moving average of $30.58. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $44.31. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 4.29 and a beta of 1.50.

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

Northern Oil and Gas Dividend Announcement

The business also recently declared 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. This represents a $1.80 annualized dividend and a dividend yield of 6.53%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is presently 28.04%.

Analysts Set New Price Targets

NOG has been the subject of a number of research analyst reports. Piper Sandler upped their price target on Northern Oil and Gas from $30.00 to $31.00 and gave the company a "neutral" rating in a report on Thursday. Morgan Stanley lowered 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 report on Thursday, March 27th. Mizuho decreased their price objective on Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating for the company in a report on Wednesday. Citigroup increased their price objective on Northern Oil and Gas from $34.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Northern Oil and Gas currently has a consensus 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.