Emerald Mutual Fund Advisers Trust Acquires 70,709 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 18.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 453,414 shares of the company’s stock after acquiring an additional 70,709 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Northern Oil and Gas were worth $16,853,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Westfield Capital Management Co. LP lifted its stake in Northern Oil and Gas by 9.3% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,537,719 shares of the company’s stock worth $57,003,000 after purchasing an additional 131,448 shares during the period. Vanguard Group Inc. lifted its position in shares of Northern Oil and Gas by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after buying an additional 43,940 shares during the period. UniSuper Management Pty Ltd acquired a new stake in Northern Oil and Gas in the 1st quarter valued at $1,046,000. Motley Fool Asset Management LLC grew its position in Northern Oil and Gas by 29.0% in the first quarter. Motley Fool Asset Management LLC now owns 72,533 shares of the company’s stock valued at $2,878,000 after acquiring an additional 16,302 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its stake in Northern Oil and Gas by 1.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock worth $29,747,000 after acquiring an additional 12,814 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Bank of America boosted their target price on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Piper Sandler dropped their price objective on shares of 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. Truist Financial boosted their target price on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada restated 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $34.95 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $39.04 and a 200 day simple moving average of $39.12. Northern Oil and Gas, Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $43.80. The firm has a market cap of $3.53 billion, a P/E ratio of 5.66 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. The firm had revenue of $560.80 million for the quarter, compared to analyst estimates of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the company earned $1.49 EPS. Sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.41 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a dividend of $0.42 per share. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend is Friday, September 27th. Northern Oil and Gas’s payout ratio is currently 27.23%.

Insider Buying and Selling at Northern Oil and Gas

In other 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 completion of the sale, the chief executive officer now owns 224,332 shares in the company, valued at approximately $8,526,859.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $37.88, for a total value of $52,728.96. Following the completion of the sale, the president now owns 107,628 shares in the company, valued at $4,076,948.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief executive officer now owns 224,332 shares in the company, valued at approximately $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 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.