Stifel Financial Corp Boosts Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Stifel Financial Corp raised its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 7.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,254 shares of the company’s stock after purchasing an additional 6,168 shares during the quarter. Stifel Financial Corp’s holdings in Northern Oil and Gas were worth $3,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Northern Oil and Gas by 1.4% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock worth $849,000 after buying an additional 320 shares during the last quarter. Easterly Investment Partners LLC raised its holdings in shares of Northern Oil and Gas by 0.8% in the 3rd quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock worth $1,792,000 after purchasing an additional 380 shares during the period. Signaturefd LLC lifted its stake in Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares during the last quarter. CWM LLC grew its holdings in Northern Oil and Gas by 24.8% during the third quarter. CWM LLC now owns 2,237 shares of the company’s stock valued at $79,000 after purchasing an additional 444 shares during the period. Finally, Arizona State Retirement System increased its position in Northern Oil and Gas by 2.2% in the second quarter. Arizona State Retirement System now owns 25,415 shares of the company’s stock worth $945,000 after buying an additional 555 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $38.48 on Wednesday. The stock has a market cap of $3.84 billion, a P/E ratio of 4.62 and a beta of 1.85. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. The business’s 50-day moving average price is $39.89 and its two-hundred day moving average price is $38.74. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. During the same period last year, the firm posted $1.73 earnings per share. Northern Oil and Gas’s quarterly revenue was up 140.0% on a year-over-year basis. As a group, equities analysts predict that Northern Oil and Gas, Inc. will post 5.4 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a $0.42 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.37%. Northern Oil and Gas’s dividend payout ratio is presently 20.17%.

Insider Buying and Selling at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. This trade represents a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the transaction, the insider now owns 105,713 shares in the company, valued at approximately $3,727,440.38. This represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,508 shares of company stock worth $248,113 over the last 90 days. Corporate insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Piper Sandler decreased their price objective on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday. Morgan Stanley lowered 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 report on Monday, September 16th. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective for the company. Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Monday. Finally, Royal Bank of Canada cut Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $43.00 to $45.00 in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Northern Oil and Gas has an average rating of “Moderate Buy” and a consensus target price of $47.20.

About Northern Oil and Gas

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.