Segall Bryant & Hamill LLC Acquires New Shares in Northern Oil and Gas, Inc. (NYSE:NOG)

Segall Bryant & Hamill LLC bought a new position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 92,476 shares of the company's stock, valued at approximately $2,796,000. Segall Bryant & Hamill LLC owned approximately 0.09% of Northern Oil and Gas at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOG. Midwest Professional Planners LTD. grew its holdings in Northern Oil and Gas by 21.4% during the 1st quarter. Midwest Professional Planners LTD. now owns 41,465 shares of the company's stock valued at $1,253,000 after buying an additional 7,306 shares in the last quarter. Signaturefd LLC grew its holdings in Northern Oil and Gas by 60.0% during the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company's stock valued at $33,000 after buying an additional 405 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in Northern Oil and Gas during the 1st quarter valued at approximately $381,000. Isthmus Partners LLC grew its holdings in Northern Oil and Gas by 2.2% during the 1st quarter. Isthmus Partners LLC now owns 49,403 shares of the company's stock valued at $1,493,000 after buying an additional 1,049 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in Northern Oil and Gas by 1.9% during the 1st quarter. New York State Common Retirement Fund now owns 1,092,152 shares of the company's stock valued at $33,016,000 after buying an additional 20,186 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Trading Down 1.1%

NOG traded down $0.29 during trading on Friday, reaching $27.24. The company had a trading volume of 2,044,397 shares, compared to its average volume of 1,615,180. The stock has a market cap of $2.69 billion, a P/E ratio of 4.24 and a beta of 1.50. The business has a 50 day simple moving average of $29.08 and a 200-day simple moving average of $30.45. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $44.31. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.96.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.21. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. The company had revenue of $602.10 million during the quarter, compared to the consensus estimate of $568.87 million. During the same period last year, the company earned $1.28 earnings per share. Northern Oil and Gas's revenue was up 51.9% on a year-over-year basis. On average, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 dividend yield of 6.61%. Northern Oil and Gas's dividend payout ratio (DPR) is 28.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NOG shares. Piper Sandler increased their target price on Northern Oil and Gas from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Thursday. Citigroup increased their target price 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. 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 report on Friday, May 23rd. Raymond James Financial reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Finally, Morgan Stanley lowered their target price on 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. One investment 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $38.78.

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.