Amalgamated Bank Sells 816 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Amalgamated Bank decreased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,182 shares of the company’s stock after selling 816 shares during the quarter. Amalgamated Bank’s holdings in Northern Oil and Gas were worth $1,048,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Northern Oil and Gas by 0.4% during the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after acquiring an additional 43,940 shares during the period. American Century Companies Inc. increased its holdings in Northern Oil and Gas by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after purchasing an additional 552,645 shares during the period. Dimensional Fund Advisors LP increased its holdings in Northern Oil and Gas by 45.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after purchasing an additional 789,985 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of 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 worth $69,430,000 after buying an additional 212,030 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Northern Oil and Gas by 5.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,432,704 shares of the company’s stock worth $56,850,000 after buying an additional 77,537 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Bank of America upped their price target 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 shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Piper Sandler lowered their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Finally, Mizuho started coverage on Northern Oil and Gas in a report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price target on the stock. One research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.70.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $34.40 on Friday. The firm has a market capitalization of $3.45 billion, a P/E ratio of 5.57 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 quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average price of $38.11 and a 200 day moving average price of $39.14.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $542.28 million. During the same period in the previous year, the firm posted $1.49 earnings per share. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. Sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.29 EPS for the current year.

Northern Oil and Gas Increases Dividend

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

Insider Activity

In related news, CEO Nicholas L. O’grady sold 3,750 shares of the company’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 sale, the chief executive officer now owns 224,332 shares in the company, valued at $8,526,859.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction 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 transaction, the president now owns 107,628 shares of the company’s stock, valued at $4,076,948.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of the company’s 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 in the company, valued at $8,526,859.32. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

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.