Vanguard Group Inc. Has $333.65 Million Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Key Points

• Vanguard Group Inc. has reduced its stake in Northern Oil and Gas by 2.1%, owning approximately 11,037,047 shares valued at $333.65 million, which is about 11.18% of the company.
• Institutional investors and hedge funds own 98.80% of Northern Oil and Gas, showcasing strong institutional interest in the company.
• The company announced a quarterly dividend of $0.45 per share, translating to an annualized dividend of $1.80 and a yield of 7.4%.

Vanguard Group Inc. lessened its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 2.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 11,037,047 shares of the company's stock after selling 236,251 shares during the quarter. Vanguard Group Inc. owned approximately 11.18% of Northern Oil and Gas worth $333,650,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in shares of Northern Oil and Gas by 60.0% in the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company's stock worth $33,000 after purchasing an additional 405 shares in the last quarter. Byrne Asset Management LLC grew its holdings in Northern Oil and Gas by 54.9% during the 1st quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock valued at $41,000 after buying an additional 483 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Northern Oil and Gas by 127.7% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock valued at $45,000 after buying an additional 835 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Northern Oil and Gas during the 1st quarter valued at about $54,000. Finally, Tower Research Capital LLC TRC lifted its position in Northern Oil and Gas by 187.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,347 shares of the company's stock worth $87,000 after buying an additional 1,530 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Analyst Ratings Changes

NOG has been the topic of several research analyst reports. Royal Bank Of Canada reduced their target price on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating on the stock in a research note on Monday, July 14th. Bank of America raised their price objective on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Citigroup raised their price objective on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Raymond James Financial restated a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Finally, Mizuho dropped their target price on Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $38.11.

Northern Oil and Gas Trading Down 1.6%

NOG opened at $24.42 on Friday. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 4.03 and a beta of 1.55. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. Northern Oil and Gas, Inc. has a 12 month low of $19.88 and a 12 month high of $44.31. The stock has a fifty day moving average price of $28.48 and a 200-day moving average price of $28.57.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.50. The firm had revenue of $706.81 million for the quarter, compared to the consensus estimate of $555.54 million. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%. The firm's revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 EPS. As a group, equities research analysts anticipate 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 company 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. 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 7.4%. Northern Oil and Gas's dividend payout ratio is presently 29.70%.

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.

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