Oxbow Advisors LLC Buys New Shares in Northern Oil and Gas, Inc. $NOG

Key Points

• Oxbow Advisors LLC acquired 217,931 shares of Northern Oil and Gas, Inc. valued at approximately $6.18 million, representing about 0.22% of the company as of their recent SEC filing.
• Analysts have varied opinions on the stock, with Citigroup raising the price target from $34.00 to $38.00, while Piper Sandler decreased its target from $31.00 to $25.00.
• Northern Oil and Gas declared a quarterly dividend of $0.45 per share, reflecting an annualized yield of 8.4%, scheduled for payment on October 31st.

Oxbow Advisors LLC bought a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 217,931 shares of the company's stock, valued at approximately $6,178,000. Oxbow Advisors LLC owned approximately 0.22% of Northern Oil and Gas as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Nuveen LLC bought a new stake in Northern Oil and Gas during the first quarter worth $36,288,000. Dimensional Fund Advisors LP increased its stake in shares of Northern Oil and Gas by 30.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company's stock worth $129,939,000 after purchasing an additional 1,001,493 shares during the last quarter. BW Gestao de Investimentos Ltda. acquired a new stake in Northern Oil and Gas in the 1st quarter valued at about $14,137,000. American Century Companies Inc. grew its holdings in Northern Oil and Gas by 6.4% during the first quarter. American Century Companies Inc. now owns 6,953,377 shares of the company's stock worth $210,201,000 after purchasing an additional 415,781 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Northern Oil and Gas by 25.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,951,505 shares of the company's stock worth $56,867,000 after buying an additional 397,128 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NOG has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Northern Oil and Gas from $34.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Piper Sandler reaffirmed a "neutral" rating and set a $25.00 price target (down previously from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. William Blair assumed coverage on shares of Northern Oil and Gas in a report on Monday, August 25th. They issued an "outperform" rating on the stock. Weiss Ratings reissued a "hold (c-)" rating on shares of Northern Oil and Gas in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada reduced their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $34.25.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG opened at $21.41 on Friday. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 3.53 and a beta of 1.61. The stock's fifty day moving average price is $24.92 and its two-hundred day moving average price is $26.43.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings results on Monday, March 6th. The company reported $1.06 EPS for the quarter. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The business had revenue of $319.19 million for the quarter. On average, equities analysts forecast that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 8.4%. Northern Oil and Gas's dividend 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.

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