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Peregrine Capital Management LLC Increases Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Northern Oil and Gas logo with Energy background

Peregrine Capital Management LLC raised its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 14.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,720 shares of the company's stock after acquiring an additional 21,634 shares during the period. Peregrine Capital Management LLC owned about 0.17% of Northern Oil and Gas worth $5,070,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOG. Vanguard Group Inc. lifted its position in shares of Northern Oil and Gas by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company's stock worth $418,916,000 after buying an additional 166,501 shares during the period. American Century Companies Inc. raised its holdings in Northern Oil and Gas by 3.9% during the 4th quarter. American Century Companies Inc. now owns 6,537,596 shares of the company's stock worth $242,937,000 after purchasing an additional 243,531 shares during the last quarter. Dimensional Fund Advisors LP lifted 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 buying an additional 68,631 shares during the period. Channing Capital Management LLC raised its position in shares of Northern Oil and Gas by 26.8% during the 4th quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company's stock valued at $65,648,000 after acquiring an additional 373,917 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake 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 buying an additional 173,092 shares during the period. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Stock Up 2.8%

NYSE:NOG traded up $0.81 on Wednesday, hitting $29.95. The stock had a trading volume of 1,679,665 shares, compared to its average volume of 1,590,941. The firm's fifty day simple moving average is $27.89 and its two-hundred day simple moving average is $31.07. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 0.92. Northern Oil and Gas, Inc. has a 1 year low of $19.88 and a 1 year high of $44.31. The stock has a market cap of $2.96 billion, a P/E ratio of 4.67 and a beta of 1.50.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.21. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. The business had revenue of $602.10 million for the quarter, compared to analysts' expectations of $568.87 million. During the same quarter in the previous year, the firm posted $1.28 EPS. The business's revenue for the quarter was up 51.9% compared to the same quarter last year. Analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas declared that its board has approved a stock buyback plan on Tuesday, March 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's payout ratio is 28.04%.

Analyst Upgrades and Downgrades

Several analysts recently commented on NOG shares. Bank of America raised their price objective on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Mizuho cut their price target on shares of Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Piper Sandler cut their price objective on Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley decreased their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Finally, Royal Bank Of Canada lowered their price target on shares of Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $39.67.

View Our Latest Report on Northern Oil and Gas

Northern Oil and Gas Profile

(Free Report)

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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Institutional Ownership by Quarter for Northern Oil and Gas (NYSE:NOG)

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