King Luther Capital Management Corp Buys 5,539 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

King Luther Capital Management Corp lifted its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 3.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 165,232 shares of the company’s stock after buying an additional 5,539 shares during the quarter. King Luther Capital Management Corp’s holdings in Northern Oil and Gas were worth $6,142,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of NOG. GAMMA Investing LLC increased its stake in shares of Northern Oil and Gas by 91.5% during the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after purchasing an additional 528 shares during the period. TFO Wealth Partners LLC increased its position in Northern Oil and Gas by 112,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after buying an additional 1,121 shares during the period. Principal Securities Inc. bought a new stake in shares of Northern Oil and Gas in the fourth quarter valued at about $42,000. Quadrant Capital Group LLC grew its stake in shares of Northern Oil and Gas by 74.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock valued at $81,000 after acquiring an additional 930 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in Northern Oil and Gas by 88.2% during the second quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock worth $82,000 after acquiring an additional 1,033 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on NOG shares. Mizuho initiated coverage on Northern Oil and Gas in a report on Thursday. They set an “outperform” rating and a $47.00 target price on the stock. Piper Sandler decreased their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. 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 report on Thursday, August 1st. Finally, Morgan Stanley decreased their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.70.

Northern Oil and Gas Stock Down 0.4 %

Northern Oil and Gas stock opened at $37.11 on Friday. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 6.01 and a beta of 1.81. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $43.80. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a 50 day moving average price of $38.37 and a two-hundred day moving average price of $39.09.

Northern Oil and Gas (NYSE:NOG) last issued 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. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The business had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. During the same quarter in the prior year, the firm posted $1.49 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities analysts predict that Northern Oil and Gas, Inc. will post 5.41 EPS for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.42 dividend. This is an increase 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 4.53%. The ex-dividend date is Friday, September 27th. Northern Oil and Gas’s payout ratio is presently 27.23%.

Insiders Place Their Bets

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