Xponance Inc. Boosts Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Xponance Inc. grew its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 18.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 6,294 shares of the company’s stock after purchasing an additional 977 shares during the period. Xponance Inc.’s holdings in Northern Oil and Gas were worth $234,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NOG. Public Sector Pension Investment Board raised its position in Northern Oil and Gas by 7.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 201,331 shares of the company’s stock worth $7,483,000 after purchasing an additional 14,237 shares during the period. Hood River Capital Management LLC grew its stake in shares of Northern Oil and Gas by 14.4% during the second quarter. Hood River Capital Management LLC now owns 955,579 shares of the company’s stock valued at $35,519,000 after buying an additional 120,356 shares during the last quarter. DRW Securities LLC purchased a new stake in shares of Northern Oil and Gas in the second quarter worth approximately $253,000. King Luther Capital Management Corp lifted its stake in shares of Northern Oil and Gas by 3.5% during the 2nd quarter. King Luther Capital Management Corp now owns 165,232 shares of the company’s stock worth $6,142,000 after acquiring an additional 5,539 shares during the last quarter. Finally, Seven Eight Capital LP lifted its stake in shares of Northern Oil and Gas by 261.2% during the 2nd quarter. Seven Eight Capital LP now owns 25,143 shares of the company’s stock worth $935,000 after acquiring an additional 18,182 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Mizuho started coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They issued an “outperform” rating and a $47.00 target price on the stock. Morgan Stanley reduced their price target 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. Truist Financial dropped their target price on shares of Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. Finally, Bank of America increased their price objective on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.60.

Insider Buying and Selling at Northern Oil and Gas

In other news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 224,332 shares in the company, valued at $8,526,859.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the sale, the insider now directly owns 105,713 shares of the company’s stock, valued at $3,727,440.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the transaction, the chief executive officer now owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $36.88 on Thursday. Northern Oil and Gas, Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $43.80. The company has a market cap of $3.73 billion, a PE ratio of 5.98 and a beta of 1.81. 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 business has a 50-day simple moving average of $37.67 and a two-hundred day simple moving average of $39.08.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share 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 company had revenue of $560.80 million for the quarter, compared to the consensus estimate of $542.28 million. During the same quarter in the previous year, the firm earned $1.49 EPS. Northern Oil and Gas’s revenue was up 17.7% compared to the same quarter last year. As a group, equities analysts expect that Northern Oil and Gas, Inc. will post 5.29 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.42 dividend. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a yield of 4.56%. Northern Oil and Gas’s dividend payout ratio (DPR) is 27.23%.

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.