Northern Oil and Gas, Inc. (NYSE:NOG) Stock Holdings Cut by Requisite Capital Management LLC

Requisite Capital Management LLC cut its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 565,452 shares of the company's stock after selling 36,800 shares during the period. Northern Oil and Gas comprises approximately 3.9% of Requisite Capital Management LLC's portfolio, making the stock its 6th largest position. Requisite Capital Management LLC owned 0.57% of Northern Oil and Gas worth $17,348,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in Northern Oil and Gas during the 4th quarter worth approximately $29,000. Blue Trust Inc. boosted its position in Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock worth $44,000 after buying an additional 801 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in Northern Oil and Gas by 127.7% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock worth $45,000 after buying an additional 835 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Northern Oil and Gas during the 4th quarter worth approximately $66,000. Finally, Smartleaf Asset Management LLC raised its holdings 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 worth $77,000 after purchasing an additional 1,570 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Up 3.4%

NYSE NOG traded up $1.06 during mid-day trading on Friday, hitting $32.21. The company's stock had a trading volume of 5,194,679 shares, compared to its average volume of 1,571,143. The company's 50 day simple moving average is $26.01 and its 200 day simple moving average is $32.21. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve 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 market capitalization of $3.18 billion, a price-to-earnings ratio of 6.27 and a beta of 1.51.

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

Northern Oil and Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's payout ratio is currently 28.04%.

Northern Oil and Gas declared that its board has initiated a share buyback program on Tuesday, March 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have issued reports on NOG. Piper Sandler lowered their price target on shares of Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. 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 for the company in a report on Monday, April 14th. Morgan Stanley lowered their price target on shares of 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 lowered 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 report on Tuesday, May 13th. Finally, Raymond James restated 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 assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $39.67.

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.