Allspring Global Investments Holdings LLC Purchases 77,537 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Allspring Global Investments Holdings LLC raised its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 5.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,432,704 shares of the company’s stock after acquiring an additional 77,537 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Northern Oil and Gas were worth $56,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Northern Oil and Gas by 1.3% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock valued at $823,000 after purchasing an additional 290 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in Northern Oil and Gas by 0.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 63,900 shares of the company’s stock valued at $2,369,000 after purchasing an additional 500 shares during the period. Mariner LLC grew its holdings in Northern Oil and Gas by 2.7% during the third quarter. Mariner LLC now owns 19,828 shares of the company’s stock valued at $798,000 after purchasing an additional 515 shares during the period. New York State Teachers Retirement System grew its holdings in Northern Oil and Gas by 1.8% during the fourth quarter. New York State Teachers Retirement System now owns 36,429 shares of the company’s stock valued at $1,350,000 after purchasing an additional 643 shares during the period. Finally, SNS Financial Group LLC grew its holdings in Northern Oil and Gas by 13.0% during the fourth quarter. SNS Financial Group LLC now owns 5,650 shares of the company’s stock valued at $212,000 after purchasing an additional 650 shares during the period. 98.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NOG has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Truist Financial raised their price target on Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Citigroup cut their price target on Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Piper Sandler raised their price target on Northern Oil and Gas from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. Finally, Jefferies Financial Group raised their price target on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.90.

Northern Oil and Gas Trading Up 1.0 %

Shares of NOG stock opened at $38.07 on Wednesday. The business’s fifty day moving average is $39.34 and its 200 day moving average is $37.80. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $43.75. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $3.85 billion, a PE ratio of 6.17 and a beta of 1.80.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The business had revenue of $396.35 million for the quarter, compared to the consensus estimate of $505.67 million. During the same quarter last year, the business posted $1.76 earnings per share. The company’s revenue for the quarter was down 31.9% on a year-over-year basis. On average, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.01 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Thursday, June 27th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a yield of 4.20%. Northern Oil and Gas’s payout ratio is 25.93%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $40.98, for a total transaction of $153,675.00. Following the sale, the chief executive officer now owns 228,082 shares in the company, valued at $9,346,800.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $40.86, for a total value of $56,877.12. Following the transaction, the president now owns 109,020 shares in the company, valued at $4,454,557.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $40.98, for a total value of $153,675.00. Following the completion of the transaction, the chief executive officer now owns 228,082 shares in the company, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. Insiders have sold 9,684 shares of company stock worth $395,581 over the last 90 days. Corporate insiders own 2.80% of the company’s stock.

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.