King Luther Capital Management Corp Raises Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

King Luther Capital Management Corp boosted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,880 shares of the company’s stock after purchasing an additional 332 shares during the quarter. King Luther Capital Management Corp’s holdings in Northern Oil and Gas were worth $5,816,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NOG. Principal Securities Inc. purchased a new position in Northern Oil and Gas during the fourth quarter worth approximately $42,000. SRS Capital Advisors Inc. raised its holdings in shares of Northern Oil and Gas by 305.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock valued at $46,000 after acquiring an additional 927 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Northern Oil and Gas during the third quarter valued at approximately $67,000. Quadrant Capital Group LLC raised its holdings in shares of Northern Oil and Gas by 74.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock valued at $81,000 after acquiring an additional 930 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Northern Oil and Gas by 44,860.0% during the third quarter. Covestor Ltd now owns 2,248 shares of the company’s stock valued at $90,000 after acquiring an additional 2,243 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NOG. Piper Sandler increased their target price on Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Raymond James reduced their target price on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. StockNews.com raised Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Citigroup cut their price target on Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Finally, Truist Financial increased their price target on Northern Oil and Gas from $55.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.00.

Insider Transactions at Northern Oil and Gas

In other news, insider James B. Evans sold 3,150 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the transaction, the insider now directly owns 73,753 shares in the company, valued at $3,097,626. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, President Adam A. Dirlam sold 2,088 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the completion of the transaction, the president now directly owns 122,359 shares in the company, valued at $4,649,642. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider James B. Evans sold 3,150 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the transaction, the insider now owns 73,753 shares of the company’s stock, valued at $3,097,626. The disclosure for this sale can be found here. Insiders sold a total of 9,933 shares of company stock worth $401,229 over the last ninety days. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Trading Up 0.1 %

NOG stock traded up $0.03 during midday trading on Thursday, hitting $39.96. 161,581 shares of the company’s stock were exchanged, compared to its average volume of 1,249,980. The business has a 50-day simple moving average of $40.73 and a two-hundred day simple moving average of $37.46. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $4.04 billion, a PE ratio of 6.47 and a beta of 1.84. Northern Oil and Gas, Inc. has a 1-year low of $29.57 and a 1-year high of $43.75.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.10. The company had revenue of $396.35 million during the quarter, compared to analysts’ expectations of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The firm’s quarterly revenue was down 31.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.76 earnings per share. On average, sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.14 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently declared 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. The ex-dividend date is Thursday, June 27th. This represents a $1.60 annualized dividend and a dividend yield of 4.00%. Northern Oil and Gas’s dividend payout ratio is currently 25.93%.

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.