Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 2.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,398,055 shares of the company’s stock after selling 34,649 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Northern Oil and Gas were worth $51,966,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NOG. Vanguard Group Inc. raised its stake in shares of Northern Oil and Gas by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after purchasing an additional 2,827,642 shares during the last quarter. Capstone Investment Advisors LLC increased its stake in Northern Oil and Gas by 8,679.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock valued at $20,355,000 after buying an additional 507,129 shares during the period. Dimensional Fund Advisors LP raised its position in Northern Oil and Gas by 30.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock worth $51,001,000 after buying an additional 324,958 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Northern Oil and Gas by 13.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock worth $69,430,000 after acquiring an additional 212,030 shares during the period. Finally, Jennison Associates LLC purchased a new stake in shares of Northern Oil and Gas in the first quarter valued at about $7,780,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Insider Buying and Selling at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $40.86, for a total transaction of $56,877.12. Following the completion of the sale, the president now directly owns 109,020 shares in the company, valued at $4,454,557.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total transaction of $56,877.12. Following the sale, the president now owns 109,020 shares in the company, valued at $4,454,557.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the transaction, the chief executive officer now owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,534 shares of company stock worth $252,144. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

NOG has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. Piper Sandler cut their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Citigroup lowered their price target on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Finally, StockNews.com downgraded shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.00.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $39.87 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $4.03 billion, a P/E ratio of 6.46 and a beta of 1.79. The firm has a 50-day moving average price of $38.95 and a two-hundred day moving average price of $38.90. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $43.80.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. The firm had revenue of $560.80 million for the quarter, compared to analyst estimates of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. Northern Oil and Gas’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.49 EPS. As a group, research analysts expect that Northern Oil and Gas, Inc. will post 5.12 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.42 dividend. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 27th. This represents a $1.68 annualized dividend and a yield of 4.21%. Northern Oil and Gas’s payout ratio is presently 27.23%.

Northern Oil and Gas Company Profile

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. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.