Neo Ivy Capital Management Invests $895,000 in Northern Oil and Gas, Inc. $NOG

Neo Ivy Capital Management acquired a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 36,094 shares of the company’s stock, valued at approximately $895,000.

Several other large investors have also bought and sold shares of NOG. First Horizon Corp acquired a new position in Northern Oil and Gas during the third quarter worth about $27,000. Laurel Wealth Advisors LLC boosted its stake in shares of Northern Oil and Gas by 2,736.1% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock valued at $29,000 after purchasing an additional 985 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Northern Oil and Gas by 181.0% in the 1st 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Northern Oil and Gas by 429.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock valued at $43,000 after purchasing an additional 1,228 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Northern Oil and Gas by 85.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock valued at $44,000 after purchasing an additional 702 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler increased their price objective on shares of Northern Oil and Gas from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday. Mizuho set a $29.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Thursday, January 22nd. Royal Bank Of Canada dropped their price target on Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 20th. Finally, Morgan Stanley set a $24.00 price objective on Northern Oil and Gas and gave the company an “underweight” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Northern Oil and Gas currently has an average rating of “Hold” and an average target price of $29.57.

Northern Oil and Gas Stock Up 1.7%

Shares of NYSE NOG opened at $28.81 on Friday. The company has a 50 day simple moving average of $24.54 and a 200 day simple moving average of $23.85. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.09 and a quick ratio of 1.09. Northern Oil and Gas, Inc. has a 1 year low of $19.88 and a 1 year high of $32.62. The firm has a market cap of $2.80 billion, a PE ratio of 87.30 and a beta of 0.96.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Wednesday, February 25th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. Northern Oil and Gas had a net margin of 1.57% and a return on equity of 19.74%. The firm had revenue of $610.18 million for the quarter, compared to analyst estimates of $524.98 million. During the same period in the previous year, the firm posted $1.11 EPS. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Monday, March 30th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, March 30th. This represents a $1.80 annualized dividend and a dividend yield of 6.2%. Northern Oil and Gas’s payout ratio is currently 545.45%.

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.