Motley Fool Asset Management LLC Increases Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Motley Fool Asset Management LLC increased its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 29.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,533 shares of the company’s stock after acquiring an additional 16,302 shares during the period. Motley Fool Asset Management LLC owned about 0.07% of Northern Oil and Gas worth $2,878,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Northern Oil and Gas by 1.3% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock worth $823,000 after acquiring an additional 290 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its stake in Northern Oil and Gas by 0.8% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 63,900 shares of the company’s stock valued at $2,369,000 after buying an additional 500 shares during the last quarter. New York State Teachers Retirement System raised its stake in Northern Oil and Gas by 1.8% during the 4th quarter. New York State Teachers Retirement System now owns 36,429 shares of the company’s stock valued at $1,350,000 after buying an additional 643 shares during the last quarter. SNS Financial Group LLC raised its stake in Northern Oil and Gas by 13.0% during the 4th quarter. SNS Financial Group LLC now owns 5,650 shares of the company’s stock valued at $212,000 after buying an additional 650 shares during the last quarter. Finally, Strs Ohio raised its stake in Northern Oil and Gas by 13.0% during the 4th quarter. Strs Ohio now owns 6,100 shares of the company’s stock valued at $226,000 after buying an additional 700 shares during the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on NOG. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. Morgan Stanley upped their price objective on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Piper Sandler upped their price objective on Northern Oil and Gas from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Citigroup reduced their price objective on Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Finally, Bank of America upped 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. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Insider Transactions at Northern Oil and Gas

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 transaction, the president now directly 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 accessible through this hyperlink. In related news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 $4,076,948.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,534 shares of company stock valued at $252,144. 2.80% of the stock is currently owned by company insiders.

Northern Oil and Gas Trading Up 0.6 %

Shares of NYSE:NOG traded up $0.26 during trading on Wednesday, reaching $41.64. The company’s stock had a trading volume of 1,562,416 shares, compared to its average volume of 1,292,585. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $43.75. The firm’s 50 day simple moving average is $38.89 and its two-hundred day simple moving average is $37.89. The stock has a market capitalization of $4.21 billion, a PE ratio of 6.70 and a beta of 1.79.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. The business had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The company’s quarterly revenue was down 31.9% compared to the same quarter last year. During the same period last year, the company posted $1.76 earnings per share. On average, research analysts predict that Northern Oil and Gas, Inc. will post 4.97 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Thursday, June 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 25.93%.

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.