Hsbc Holdings PLC Takes Position in Northern Oil and Gas, Inc. $NOG

Hsbc Holdings PLC acquired a new position in Northern Oil and Gas, Inc. (NYSE:NOG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 274,252 shares of the company’s stock, valued at approximately $8,115,000. Hsbc Holdings PLC owned about 0.26% of Northern Oil and Gas at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ascentis Independent Advisors bought a new stake in Northern Oil and Gas in the 1st quarter valued at $33,000. Jones Financial Companies Lllp increased its holdings in shares of Northern Oil and Gas by 181.0% during the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after purchasing an additional 713 shares during the period. Global Retirement Partners LLC raised its position in shares of Northern Oil and Gas by 572.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock valued at $36,000 after buying an additional 1,432 shares during the last quarter. Plato Investment Management Ltd acquired a new position in shares of Northern Oil and Gas during the fourth quarter valued at about $43,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock valued at $43,000 after buying an additional 1,228 shares during the period. Institutional investors own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NOG shares. Mizuho decreased their target price on Northern Oil and Gas from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Wall Street Zen downgraded Northern Oil and Gas from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Royal Bank Of Canada boosted their price objective on Northern Oil and Gas from $30.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 8th. Weiss Ratings lowered Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Finally, Morgan Stanley set a $25.00 price target on shares of Northern Oil and Gas and gave the stock an “underweight” rating in a research note on Monday, June 29th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $30.62.

Northern Oil and Gas Stock Up 0.8%

Shares of NOG opened at $22.08 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.43. The company has a 50-day moving average price of $20.77 and a two-hundred day moving average price of $24.15. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -3.47 and a beta of 0.69. Northern Oil and Gas, Inc. has a 12 month low of $17.18 and a 12 month high of $31.17.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. The company had revenue of $5.03 million for the quarter, compared to analyst estimates of $511.38 million. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The company’s revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.33 EPS. Equities analysts predict that Northern Oil and Gas, Inc. will post 3.48 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 8.2%. The ex-dividend date is Monday, June 29th. Northern Oil and Gas’s dividend payout ratio is -28.26%.

Insider Transactions at Northern Oil and Gas

In related news, Director Bahram Akradi acquired 25,760 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was purchased at an average cost of $19.40 per share, for a total transaction of $499,744.00. Following the completion of the purchase, the director directly owned 1,713,444 shares of the company’s stock, valued at $33,240,813.60. The trade was a 1.53% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Northern Oil and Gas Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.