Northern Oil and Gas, Inc. $NOG Shares Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lifted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 55.6% in the second quarter, HoldingsChannel.com reports. The firm owned 87,152 shares of the company’s stock after acquiring an additional 31,152 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Northern Oil and Gas were worth $1,582,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Northern Oil and Gas during the second quarter worth about $29,000. Allworth Financial LP acquired a new stake in Northern Oil and Gas during the 2nd quarter worth approximately $31,000. Ascentis Independent Advisors acquired a new stake in Northern Oil and Gas during the 1st quarter worth approximately $33,000. Jones Financial Companies Lllp grew its position in shares of Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after purchasing an additional 713 shares during the period. Finally, Global Retirement Partners LLC boosted its position in shares of Northern Oil and Gas by 572.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock worth $36,000 after acquiring an additional 1,432 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Northern Oil and Gas news, Director Bahram Akradi bought 25,760 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $19.40 per share, with a total value of $499,744.00. Following the completion of the acquisition, the director directly owned 1,713,444 shares of the company’s stock, valued at approximately $33,240,813.60. The trade was a 1.53% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.80% of the stock is currently owned by company insiders.

Northern Oil and Gas Price Performance

Shares of NOG opened at $25.74 on Friday. Northern Oil and Gas, Inc. has a 52 week low of $17.18 and a 52 week high of $31.17. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -4.97 and a beta of 0.70. The stock has a 50 day moving average of $21.57 and a 200-day moving average of $24.20.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). The business had revenue of $745.24 million during the quarter, compared to analyst estimates of $594.09 million. Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%.The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.37 EPS. As a group, analysts forecast that Northern Oil and Gas, Inc. will post 3.79 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 29th. This represents a $1.80 annualized dividend and a yield of 7.0%. Northern Oil and Gas’s dividend payout ratio is -34.75%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Johnson Rice downgraded Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 price objective on the stock. in a report on Wednesday, May 20th. Wall Street Zen raised Northern Oil and Gas from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Morgan Stanley set a $25.00 price objective on shares of Northern Oil and Gas and gave the company an “underweight” rating in a research note on Monday, June 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $28.00 price target on shares of Northern Oil and Gas in a report on Wednesday, July 15th. Finally, Weiss Ratings raised Northern Oil and Gas from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.62.

Northern Oil and Gas Company 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.