SIR Capital Management L.P. Invests $3.81 Million in Northern Oil and Gas, Inc. $NOG

SIR Capital Management L.P. acquired a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 210,200 shares of the company’s stock, valued at approximately $3,815,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings 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 buying an additional 713 shares during the period. Ascentis Independent Advisors purchased a new position in Northern Oil and Gas during the 1st quarter valued at about $33,000. EverSource Wealth Advisors LLC increased 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 worth $43,000 after purchasing an additional 1,228 shares during the period. Smartleaf Asset Management LLC increased 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 worth $44,000 after purchasing an additional 702 shares during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Northern Oil and Gas during the second quarter worth about $29,000. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Insiders Place Their Bets

In related news, Director Bahram Akradi acquired 25,760 shares of Northern Oil and Gas stock in a transaction dated Monday, June 22nd. The stock was acquired at an average price of $19.40 per share, for a total transaction of $499,744.00. Following the transaction, the director owned 1,713,444 shares of the company’s stock, valued at $33,240,813.60. This represents a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Mizuho upgraded shares of Northern Oil and Gas to a “hold” rating in a report on Friday, July 31st. Citigroup reduced their target price on shares of Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Morgan Stanley set a $25.00 price target on shares of Northern Oil and Gas and gave the company an “underweight” rating in a research report on Monday, June 29th. Weiss Ratings raised Northern Oil and Gas from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Finally, Johnson Rice downgraded Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 price target on the stock. in a report on Wednesday, May 20th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.62.

Northern Oil and Gas Trading Down 1.9%

NYSE:NOG opened at $26.82 on Tuesday. The stock has a 50-day simple moving average of $21.04 and a 200-day simple moving average of $24.17. The stock has a market cap of $2.86 billion, a P/E ratio of -5.18 and a beta of 0.70. Northern Oil and Gas, Inc. has a 1 year low of $17.18 and a 1 year high of $31.17. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.80.

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). Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. The business had revenue of $745.24 million during the quarter, compared to analysts’ expectations of $594.09 million. During the same quarter in the previous year, the company posted $1.37 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that Northern Oil and Gas, Inc. will post 3.79 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 6.7%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently -34.75%.

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.