Requisite Capital Management LLC Trims Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Requisite Capital Management LLC decreased its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 6.1% during the 1st quarter, according to 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 makes up 3.9% of Requisite Capital Management LLC's holdings, making the stock its 6th biggest 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 and other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in Northern Oil and Gas during the fourth quarter worth about $29,000. Blue Trust Inc. grew its position in shares of 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 purchasing an additional 801 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Northern Oil and Gas by 127.7% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock worth $45,000 after purchasing an additional 835 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Northern Oil and Gas in the fourth quarter valued at approximately $66,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Northern Oil and Gas by 297.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock valued at $77,000 after buying an additional 1,570 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG traded up $0.84 during trading on Tuesday, hitting $30.65. 1,408,703 shares of the company were exchanged, compared to its average volume of 1,547,197. The business's 50 day moving average is $25.59 and its 200-day moving average is $32.31. The company has a market capitalization of $3.03 billion, a P/E ratio of 5.96 and a beta of 1.51. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $44.31.

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 company had revenue of $602.10 million for 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%. Northern Oil and Gas's revenue for the quarter was up 51.9% on a year-over-year basis. During the same quarter last year, the business posted $1.28 EPS. Equities analysts forecast 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 initiated a stock buyback plan on Tuesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's payout ratio is 28.04%.

Analyst Upgrades and Downgrades

NOG has been the subject of several analyst reports. Capital One Financial cut shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Raymond James reissued a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Morgan Stanley lowered their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Citigroup reduced their target price on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Finally, Piper Sandler decreased their price target on Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One 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 stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $39.67.

About Northern Oil and Gas

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.