Rhumbline Advisers Reduces Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Rhumbline Advisers lowered its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 272,178 shares of the company's stock after selling 12,896 shares during the quarter. Rhumbline Advisers owned approximately 0.27% of Northern Oil and Gas worth $8,228,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Northern Oil and Gas by 2,067.5% during the first quarter. GAMMA Investing LLC now owns 45,950 shares of the company's stock worth $1,520,000 after buying an additional 43,830 shares in the last quarter. Insight Wealth Strategies LLC boosted its position in shares of Northern Oil and Gas by 94.5% during the 1st quarter. Insight Wealth Strategies LLC now owns 55,530 shares of the company's stock valued at $1,679,000 after acquiring an additional 26,980 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Northern Oil and Gas by 3.1% during the 4th quarter. California State Teachers Retirement System now owns 89,279 shares of the company's stock valued at $3,318,000 after acquiring an additional 2,643 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Northern Oil and Gas by 13.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,956 shares of the company's stock worth $370,000 after purchasing an additional 1,201 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of Northern Oil and Gas in the fourth quarter worth approximately $1,128,000. Hedge funds and other institutional investors own 98.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Capital One Financial lowered shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Citigroup decreased their price target on shares of 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. Raymond James reaffirmed a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Morgan Stanley cut their target price 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. Finally, Bank of America increased their target price on Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Northern Oil and Gas presently has a consensus rating of "Hold" and an average price target of $39.67.

Northern Oil and Gas Trading Up 0.2%

Shares of NOG stock traded up $0.07 on Thursday, hitting $31.16. 897,623 shares of the company's stock traded hands, compared to its average volume of 1,554,857. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 6.06 and a beta of 1.51. The company's fifty day simple moving average is $25.84 and its 200 day simple moving average is $32.29. 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 1.02, a quick ratio of 1.23 and a current ratio of 0.92.

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. The business had revenue of $602.10 million during the quarter, compared to analyst estimates of $568.87 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The company's revenue was up 51.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. 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 Thursday, July 31st. Investors of record on Friday, June 27th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.80 annualized dividend and a yield of 5.78%. Northern Oil and Gas's payout ratio is 28.04%.

Northern Oil and Gas announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

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.