Denali Advisors LLC Boosts Stock Holdings in Northern Oil and Gas, Inc. $NOG

Denali Advisors LLC boosted its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 45.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 313,261 shares of the company’s stock after buying an additional 98,474 shares during the period. Denali Advisors LLC’s holdings in Northern Oil and Gas were worth $6,726,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. First Horizon Corp purchased a new position in Northern Oil and Gas during the third quarter valued at $27,000. Jones Financial Companies Lllp grew its stake in Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after acquiring an additional 713 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Northern Oil and Gas by 429.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock valued at $43,000 after acquiring an additional 1,228 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Northern Oil and Gas by 85.7% during the second quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock valued at $44,000 after acquiring an additional 702 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in Northern Oil and Gas by 18.8% during the fourth quarter. SBI Securities Co. Ltd. now owns 3,207 shares of the company’s stock valued at $69,000 after acquiring an additional 507 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $23.45 on Friday. The company has a 50 day moving average price of $27.55 and a 200-day moving average price of $24.59. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.53. Northern Oil and Gas, Inc. has a fifty-two week low of $20.18 and a fifty-two week high of $32.62. The company has a market capitalization of $2.48 billion, a PE ratio of -3.68 and a beta of 0.75.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results 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. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. The firm had revenue of $5.03 million during the quarter, compared to the consensus estimate of $511.38 million. During the same quarter in the previous year, the firm posted $1.33 earnings per share. The company’s revenue was down 6.2% on a year-over-year basis. As a group, equities analysts forecast that Northern Oil and Gas, Inc. will post 3.23 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, March 30th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend was Monday, March 30th. Northern Oil and Gas’s payout ratio is currently -28.26%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NOG. Citigroup cut their target price on shares of Northern Oil and Gas from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Bank of America lifted their price objective on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Weiss Ratings cut shares of Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Piper Sandler lifted their price objective on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Finally, Morgan Stanley reissued an “underweight” rating on shares of Northern Oil and Gas in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.00.

About Northern Oil and Gas

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.