Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 16.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 329,422 shares of the company’s stock after selling 66,200 shares during the period. Raymond James & Associates’ holdings in Northern Oil and Gas were worth $12,245,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NOG. Vanguard Group Inc. increased its stake in shares of Northern Oil and Gas by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after acquiring an additional 2,827,642 shares during the last quarter. Capstone Investment Advisors LLC raised its stake in Northern Oil and Gas by 8,679.3% during the first quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock worth $20,355,000 after purchasing an additional 507,129 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Northern Oil and Gas by 30.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock valued at $51,001,000 after purchasing an additional 324,958 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Northern Oil and Gas by 13.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock valued at $69,430,000 after purchasing an additional 212,030 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Northern Oil and Gas in the 1st quarter valued at approximately $7,780,000. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Bank of America lifted their price target on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Citigroup decreased their target price on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Finally, Truist Financial lifted their price target on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Northern Oil and Gas Trading Up 4.1 %

NYSE NOG opened at $39.61 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.96 and a current ratio of 0.89. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 6.42 and a beta of 1.79. The firm has a 50 day simple moving average of $38.84 and a 200-day simple moving average of $38.74. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $43.80.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The company had revenue of $560.80 million for the quarter, compared to analyst estimates of $542.28 million. During the same period in the prior year, the business earned $1.49 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. Equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.12 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.42 dividend. The ex-dividend date is Friday, September 27th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 4.24%. Northern Oil and Gas’s dividend payout ratio (DPR) is 27.23%.

Insider Buying and Selling

In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the 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 sale, the president now owns 109,020 shares of the company’s stock, valued at approximately $4,454,557.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction on Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the completion of the sale, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total transaction of $56,877.12. Following the transaction, the president now owns 109,020 shares of the company’s stock, valued at approximately $4,454,557.20. The disclosure for this sale can be found here. Insiders sold 6,534 shares of company stock valued at $252,144 in the last three months. 2.80% of the stock is owned by corporate insiders.

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.