Teza Capital Management LLC Sells 37,617 Shares of 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 decreased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 79.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 9,731 shares of the company's stock after selling 37,617 shares during the period. Teza Capital Management LLC's holdings in Northern Oil and Gas were worth $294,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in Northern Oil and Gas by 25.3% in the 1st quarter. State of Alaska Department of Revenue now owns 97,025 shares of the company's stock worth $2,932,000 after purchasing an additional 19,586 shares in the last quarter. American Century Companies Inc. raised its stake in Northern Oil and Gas by 6.4% in the 1st quarter. American Century Companies Inc. now owns 6,953,377 shares of the company's stock worth $210,201,000 after purchasing an additional 415,781 shares in the last quarter. Principal Financial Group Inc. raised its stake in Northern Oil and Gas by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 494,508 shares of the company's stock worth $14,949,000 after purchasing an additional 12,711 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Northern Oil and Gas by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,141,754 shares of the company's stock worth $34,515,000 after purchasing an additional 82,855 shares in the last quarter. Finally, Motley Fool Asset Management LLC raised its stake in Northern Oil and Gas by 21.2% in the 1st quarter. Motley Fool Asset Management LLC now owns 85,483 shares of the company's stock worth $2,584,000 after purchasing an additional 14,945 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Price Performance

NOG stock traded down $0.26 during trading on Friday, reaching $25.50. 844,977 shares of the company were exchanged, compared to its average volume of 1,437,372. The company has a 50-day moving average of $26.46 and a two-hundred day moving average of $27.16. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 4.21 and a beta of 1.67. 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 debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $706.81 million during the quarter, compared to analysts' expectations of $555.54 million. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The firm's quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 EPS. As a group, equities analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Monday, September 29th. Northern Oil and Gas's payout ratio is presently 29.70%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup boosted their target price on shares of 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. Mizuho dropped their target price on shares of Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. William Blair assumed coverage on shares of Northern Oil and Gas in a research report on Monday, August 25th. They issued an "outperform" rating for the company. 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 research report on Monday, August 18th. Finally, Bank of America boosted their target price 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. 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.89.

Northern Oil and Gas Company 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.