Victory Capital Management Inc. Sells 99,341 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Victory Capital Management Inc. decreased its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 12.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 702,790 shares of the company's stock after selling 99,341 shares during the quarter. Victory Capital Management Inc. owned approximately 0.71% of Northern Oil and Gas worth $21,245,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in Northern Oil and Gas in the fourth quarter worth about $29,000. Signaturefd LLC grew its holdings in Northern Oil and Gas by 60.0% in the first quarter. Signaturefd LLC now owns 1,080 shares of the company's stock worth $33,000 after purchasing an additional 405 shares during the period. Byrne Asset Management LLC grew its holdings in Northern Oil and Gas by 54.9% in the first quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock worth $41,000 after purchasing an additional 483 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Northern Oil and Gas by 127.7% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock worth $45,000 after purchasing an additional 835 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in Northern Oil and Gas in the first quarter worth about $54,000. Hedge funds and other institutional investors own 98.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Northern Oil and Gas from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Royal Bank Of Canada dropped their price objective on shares of Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a research note on Monday, July 14th. Mizuho decreased their price objective on shares of 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. Citigroup raised 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. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $38.78.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $26.59 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $2.62 billion, a P/E ratio of 4.14 and a beta of 1.50. The company's fifty day moving average is $29.08 and its two-hundred day moving average is $30.36. Northern Oil and Gas, Inc. has a 1 year low of $19.88 and a 1 year high of $44.31.

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

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.80 dividend on an annualized basis and a yield of 6.77%. Northern Oil and Gas's dividend payout ratio (DPR) is 28.04%.

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.

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