Natixis Advisors LLC Has $1.89 Million Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Key Points

• Natixis Advisors LLC reduced its stake in Northern Oil and Gas by 17.4%, now holding approximately 0.06% of the company valued at about $1.88 million.
• Several institutional investors increased their positions, with Dimensional Fund Advisors LP boosting its stake by 2.1% to around $122.5 million worth of shares.
• Northern Oil and Gas announced a quarterly dividend of $0.45, reflecting a 7.3% annual yield with a payout ratio of 29.70%.

Natixis Advisors LLC cut its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 17.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,358 shares of the company's stock after selling 13,181 shares during the quarter. Natixis Advisors LLC owned 0.06% of Northern Oil and Gas worth $1,885,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Northern Oil and Gas by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,296,886 shares of the company's stock valued at $122,507,000 after buying an additional 68,631 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Northern Oil and Gas by 12.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,554,377 shares of the company's stock valued at $46,429,000 after buying an additional 173,092 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Northern Oil and Gas by 9.2% during the 4th quarter. Northern Trust Corp now owns 1,246,573 shares of the company's stock valued at $46,323,000 after buying an additional 104,854 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Northern Oil and Gas by 1.9% during the 1st quarter. New York State Common Retirement Fund now owns 1,092,152 shares of the company's stock valued at $33,016,000 after buying an additional 20,186 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of Northern Oil and Gas by 1.4% during the 4th quarter. Voya Investment Management LLC now owns 917,019 shares of the company's stock valued at $34,076,000 after buying an additional 12,257 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on NOG. Piper Sandler reiterated a "neutral" rating and set a $25.00 price target (down from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. Royal Bank Of Canada reduced their price target on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a report on Monday, July 14th. Bank of America lifted their price target 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. Raymond James Financial restated a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Finally, Mizuho reduced their target price on Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Northern Oil and Gas currently has an average rating of "Moderate Buy" and a consensus price target of $38.11.

Northern Oil and Gas Stock Performance

NYSE NOG traded up $0.62 during trading on Tuesday, hitting $24.57. The company's stock had a trading volume of 1,434,444 shares, compared to its average volume of 1,839,762. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average price of $28.78 and a 200 day moving average price of $28.87. The firm has a market cap of $2.40 billion, a P/E ratio of 4.05 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.

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

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, September 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.3%. Northern Oil and Gas's payout ratio is currently 29.70%.

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.