Emerald Advisers LLC Raises Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Emerald Advisers LLC lifted its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 17.6% in the second quarter, Holdings Channel reports. The firm owned 566,999 shares of the company’s stock after buying an additional 84,751 shares during the period. Emerald Advisers LLC’s holdings in Northern Oil and Gas were worth $21,075,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Northern Oil and Gas by 91.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after purchasing an additional 528 shares in the last quarter. Principal Securities Inc. bought a new position in Northern Oil and Gas during the 4th quarter worth about $42,000. TFO Wealth Partners LLC increased its position in Northern Oil and Gas by 112,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after purchasing an additional 1,121 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Northern Oil and Gas by 74.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock valued at $81,000 after purchasing an additional 930 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Northern Oil and Gas by 88.2% in the 2nd quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock worth $82,000 after purchasing an additional 1,033 shares during the period. Institutional investors own 98.80% of the company’s stock.

Insider Transactions at Northern Oil and Gas

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, CEO Nicholas L. O’grady sold 3,750 shares of the firm’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 transaction, the chief executive officer now 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 available at the SEC website. Also, President Adam A. Dirlam sold 1,392 shares of the company’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 sale, the president now directly owns 107,628 shares in the company, valued at $4,076,948.64. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. 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. 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 cut their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Finally, Truist Financial raised their target price on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Northern Oil and Gas Stock Down 3.7 %

NOG stock opened at $34.95 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.91. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $43.80. The stock has a market capitalization of $3.53 billion, a PE ratio of 5.66 and a beta of 1.81. The firm has a 50 day moving average of $39.04 and a 200 day moving average of $39.12.

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 forecast that Northern Oil and Gas, Inc. will post 5.41 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

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

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.