Midwest Professional Planners LTD. Sells 22,352 Shares of Northern Oil and Gas, Inc. $NOG

Midwest Professional Planners LTD. reduced its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 53.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,777 shares of the company’s stock after selling 22,352 shares during the period. Midwest Professional Planners LTD.’s holdings in Northern Oil and Gas were worth $425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Jones Financial Companies Lllp lifted its holdings 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 worth $33,000 after acquiring an additional 713 shares in the last quarter. Plato Investment Management Ltd bought a new position in Northern Oil and Gas during the fourth quarter worth about $43,000. EverSource Wealth Advisors LLC lifted its holdings 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 worth $43,000 after acquiring an additional 1,228 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings 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 worth $44,000 after acquiring an additional 702 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Northern Oil and Gas by 18.8% in the fourth quarter. SBI Securities Co. Ltd. now owns 3,207 shares of the company’s stock valued at $69,000 after purchasing an additional 507 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Trading Up 0.7%

Shares of NYSE:NOG opened at $24.93 on Wednesday. The company has a market capitalization of $2.64 billion, a P/E ratio of -3.91 and a beta of 0.75. Northern Oil and Gas, Inc. has a 1 year low of $20.18 and a 1 year high of $32.62. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.53 and a quick ratio of 0.53. The business’s 50 day simple moving average is $26.95 and its 200 day simple moving average is $24.72.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The business had revenue of $5.03 million for the quarter, compared to the consensus estimate of $511.38 million. During the same quarter in the prior year, the business posted $1.33 earnings per share. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, research analysts anticipate that Northern Oil and Gas, Inc. will post 3.13 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, June 29th. This represents a $1.80 annualized dividend and a yield of 7.2%. Northern Oil and Gas’s dividend payout ratio is presently -28.26%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NOG. Morgan Stanley reiterated an “underweight” rating on shares of Northern Oil and Gas in a report on Friday, March 27th. Piper Sandler boosted their price target on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Weiss Ratings downgraded Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Citigroup lowered their price target on Northern Oil and Gas from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Mizuho set a $29.00 price target on Northern Oil and Gas in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.33.

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.