Teza Capital Management LLC Reduces Stock Position in Northern Oil and Gas, Inc. $NOG

Key Points

• Teza Capital Management LLC reduced its stake in Northern Oil and Gas by 79.4%, selling 37,617 shares, and now holds 9,731 shares valued at approximately $294,000.
• Northern Oil and Gas recently announced a quarterly dividend of $0.45 per share, with a yield of 7.3% and a payout ratio of 29.70%.
• Institutional investors own 98.80% of Northern Oil and Gas stock, with Captrust Financial Advisors and others increasing their positions during the last quarter.

Teza Capital Management LLC lessened its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 79.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,731 shares of the company's stock after selling 37,617 shares during the quarter. Teza Capital Management LLC's holdings in Northern Oil and Gas were worth $294,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NOG. Nuveen LLC bought a new position in Northern Oil and Gas during the first quarter worth about $36,288,000. Dimensional Fund Advisors LP raised its stake in Northern Oil and Gas by 30.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company's stock valued at $129,939,000 after purchasing an additional 1,001,493 shares in the last quarter. BW Gestao de Investimentos Ltda. bought a new position in Northern Oil and Gas during the first quarter valued at approximately $14,137,000. American Century Companies Inc. increased its stake in shares of Northern Oil and Gas by 6.4% in the first quarter. American Century Companies Inc. now owns 6,953,377 shares of the company's stock worth $210,201,000 after buying an additional 415,781 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of 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 worth $46,429,000 after buying an additional 173,092 shares during the period. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock traded down $0.03 during mid-day trading on Thursday, hitting $25.75. The company had a trading volume of 1,548,495 shares, compared to its average volume of 1,481,906. Northern Oil and Gas, Inc. has a 12-month low of $19.88 and a 12-month high of $44.31. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 4.95 and a beta of 1.67. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. The company's fifty day moving average is $26.55 and its 200-day moving average is $27.28.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.50. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%.The business had revenue of $706.81 million during the quarter, compared to the consensus estimate of $555.54 million. During the same period last year, the company earned $1.46 EPS. The company's revenue for the quarter was up 26.0% on a year-over-year basis. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.0%. Northern Oil and Gas's payout ratio is presently 29.70%.

Analysts Set New Price Targets

A number of analysts have recently commented on NOG shares. Morgan Stanley cut shares of Northern Oil and Gas from a "positive" rating to an "underweight" rating and dropped their target price for the company from $29.00 to $27.00 in a report on Monday, August 18th. Bank of America upped their price target on shares of 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. William Blair started coverage on shares of Northern Oil and Gas in a report on Monday, August 25th. They issued an "outperform" rating for the company. Citigroup increased their price objective on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada cut their target price on shares of Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.89.

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.