Nuveen Asset Management LLC Decreases Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Nuveen Asset Management LLC trimmed its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,226,479 shares of the company's stock after selling 142,233 shares during the quarter. Nuveen Asset Management LLC owned 1.23% of Northern Oil and Gas worth $45,576,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in Northern Oil and Gas by 297.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock valued at $77,000 after purchasing an additional 1,570 shares during the period. Principal Financial Group Inc. increased its position in Northern Oil and Gas by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 481,797 shares of the company's stock valued at $17,904,000 after purchasing an additional 11,690 shares during the period. State of Alaska Department of Revenue increased its position in Northern Oil and Gas by 36.1% during the 4th quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company's stock valued at $2,877,000 after purchasing an additional 20,550 shares during the period. Proficio Capital Partners LLC purchased a new position in Northern Oil and Gas during the 4th quarter valued at $909,000. Finally, Charles Schwab Investment Management Inc. increased its position in Northern Oil and Gas by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,058,899 shares of the company's stock valued at $39,349,000 after purchasing an additional 73,256 shares during the period. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Down 0.8%

Shares of NOG opened at $28.21 on Tuesday. The firm has a market capitalization of $2.78 billion, a P/E ratio of 5.49 and a beta of 1.47. Northern Oil and Gas, Inc. has a 12-month low of $19.88 and a 12-month high of $44.31. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The firm has a fifty day moving average price of $26.35 and a 200-day moving average price of $33.67.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.21. The firm had revenue of $602.10 million during the quarter, compared to the consensus estimate of $568.87 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The firm's quarterly revenue was up 51.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. Equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas announced that its board has approved a stock buyback program on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be issued a $0.45 dividend. The ex-dividend date is Friday, June 27th. This represents a $1.80 dividend on an annualized basis and a yield of 6.38%. Northern Oil and Gas's dividend payout ratio is presently 28.04%.

Insiders Place Their Bets

In other Northern Oil and Gas news, CEO Nicholas L. O'grady purchased 1,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the purchase, the chief executive officer now owns 226,189 shares of the company's stock, valued at approximately $6,215,673.72. The trade was a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bahram Akradi purchased 40,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the purchase, the director now directly owns 1,662,016 shares of the company's stock, valued at approximately $46,586,308.48. The trade was a 2.47% increase in their position. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on NOG. Raymond James reissued a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Mizuho reduced their target price on shares of Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Citigroup reduced their target price 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. Bank of America reduced their target price on shares of Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Finally, Capital One Financial downgraded shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Northern Oil and Gas currently has an average rating of "Hold" and an average target price of $40.56.

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.

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