16,821 Shares in Northern Oil and Gas, Inc. (NYSE:NOG) Acquired by Qsemble Capital Management LP

Qsemble Capital Management LP acquired a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 16,821 shares of the company’s stock, valued at approximately $625,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Northern Oil and Gas by 0.4% in the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock valued at $421,857,000 after buying an additional 43,940 shares in the last quarter. American Century Companies Inc. increased its position in Northern Oil and Gas by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after acquiring an additional 552,645 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Northern Oil and Gas by 13.8% in the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock worth $69,430,000 after acquiring an additional 212,030 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Northern Oil and Gas by 5.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,432,704 shares of the company’s stock worth $56,850,000 after purchasing an additional 77,537 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Northern Oil and Gas by 1.1% during the first quarter. Principal Financial Group Inc. now owns 1,422,435 shares of the company’s stock valued at $56,442,000 after purchasing an additional 16,081 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $34.43 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $3.45 billion, a PE ratio of 5.58 and a beta of 1.81. The stock has a 50-day moving average of $38.62 and a 200-day moving average of $39.07. 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 announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. The company had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. Northern Oil and Gas’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.49 EPS. As a group, sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.41 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.88%. Northern Oil and Gas’s dividend payout ratio is 25.93%.

Insider Activity

In other news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $37.88, for a total value of $52,728.96. Following the completion of the sale, the president now directly owns 107,628 shares of the company’s stock, valued at approximately $4,076,948.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $37.88, for a total value of $52,728.96. Following the completion of the transaction, the president now directly owns 107,628 shares in the company, valued at approximately $4,076,948.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the transaction, the chief executive officer now owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NOG has been the subject of several research analyst reports. Bank of America boosted their price objective on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Piper Sandler lowered their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. Finally, Truist Financial boosted their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Northern Oil and Gas 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.