Russell Investments Group Ltd. Reduces Position in Northern Oil and Gas, Inc. (NYSEAMERICAN:NOG)

Russell Investments Group Ltd. decreased its holdings in shares of Northern Oil and Gas, Inc. (NYSEAMERICAN:NOG – Get Rating) by 54.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 545,893 shares of the energy company’s stock after selling 655,551 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.71% of Northern Oil and Gas worth $15,386,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TCI Wealth Advisors Inc. acquired a new stake in Northern Oil and Gas during the 1st quarter worth approximately $29,000. Emerald Mutual Fund Advisers Trust purchased a new position in Northern Oil and Gas during the 1st quarter worth $140,000. Ensign Peak Advisors Inc acquired a new stake in shares of Northern Oil and Gas in the 4th quarter worth $182,000. Geneos Wealth Management Inc. boosted its holdings in shares of Northern Oil and Gas by 14.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 9,240 shares of the energy company’s stock valued at $190,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Westwood Holdings Group Inc. purchased a new stake in shares of Northern Oil and Gas in the fourth quarter valued at about $200,000. 88.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial lifted their price objective on Northern Oil and Gas from $52.00 to $58.00 in a report on Monday, June 13th. Piper Sandler dropped their target price on shares of Northern Oil and Gas from $51.00 to $49.00 in a report on Friday, July 22nd. Bank of America lowered their price target on shares of Northern Oil and Gas from $38.00 to $32.00 in a research report on Tuesday, July 19th. Citigroup lifted their price objective on Northern Oil and Gas from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, April 26th. Finally, Raymond James increased their target price on Northern Oil and Gas from $48.00 to $55.00 in a report on Thursday, June 9th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.56.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, major shareholder Robert B. Rowling sold 400,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $33.26, for a total value of $13,304,000.00. Following the completion of the transaction, the insider now owns 8,563,719 shares in the company, valued at approximately $284,829,293.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Robert B. Rowling sold 400,000 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $33.26, for a total transaction of $13,304,000.00. Following the completion of the sale, the insider now directly owns 8,563,719 shares in the company, valued at $284,829,293.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Robert B. Rowling sold 117,860 shares of the business’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $33.01, for a total value of $3,890,558.60. Following the completion of the transaction, the insider now owns 8,263,719 shares in the company, valued at approximately $272,785,364.19. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSEAMERICAN:NOG opened at $25.69 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 3.73. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -25.19, a price-to-earnings-growth ratio of 0.51 and a beta of 2.25. Northern Oil and Gas, Inc. has a 12-month low of $14.03 and a 12-month high of $39.10.

Northern Oil and Gas (NYSEAMERICAN:NOG – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The energy company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.38. Northern Oil and Gas had a net margin of 1.28% and a negative return on equity of 351.74%. The company had revenue of $456.46 million for the quarter, compared to analyst estimates of $321.67 million. During the same quarter last year, the business earned $0.62 EPS. Analysts expect that Northern Oil and Gas, Inc. will post 5.76 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, September 29th will be paid a $0.25 dividend. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.19. This represents a $1.00 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, September 28th. Northern Oil and Gas’s payout ratio is currently -74.51%.

Northern Oil and Gas Company Profile

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Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.

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