Pin Oak Investment Advisors Inc. Acquires New Holdings in Northern Oil and Gas, Inc. $NOG

Pin Oak Investment Advisors Inc. acquired a new position in Northern Oil and Gas, Inc. (NYSE:NOG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 109,108 shares of the company’s stock, valued at approximately $3,190,000. Northern Oil and Gas makes up about 1.7% of Pin Oak Investment Advisors Inc.’s holdings, making the stock its 11th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC raised its position in shares of Northern Oil and Gas by 14.9% in the 4th quarter. Quadrant Capital Group LLC now owns 3,092 shares of the company’s stock worth $66,000 after acquiring an additional 400 shares in the last quarter. Transamerica Financial Advisors LLC boosted its position in Northern Oil and Gas by 22.1% during the second quarter. Transamerica Financial Advisors LLC now owns 2,242 shares of the company’s stock valued at $42,000 after purchasing an additional 406 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in 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 during the last quarter. Virtus Investment Advisers LLC grew its stake in Northern Oil and Gas by 8.4% in the fourth quarter. Virtus Investment Advisers LLC now owns 7,394 shares of the company’s stock valued at $159,000 after purchasing an additional 572 shares during the last quarter. Finally, Isthmus Partners LLC raised its holdings in Northern Oil and Gas by 0.8% in the first quarter. Isthmus Partners LLC now owns 82,358 shares of the company’s stock worth $2,407,000 after purchasing an additional 619 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $25.74 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $2.74 billion, a PE ratio of -4.97 and a beta of 0.70. The business has a 50-day simple moving average of $21.57 and a two-hundred day simple moving average of $24.20. Northern Oil and Gas, Inc. has a fifty-two week low of $17.18 and a fifty-two week high of $31.17.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.05). The company had revenue of $745.24 million for the quarter, compared to analyst estimates of $594.09 million. Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 EPS. As a group, equities analysts expect that Northern Oil and Gas, Inc. will post 3.79 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 7.0%. Northern Oil and Gas’s dividend payout ratio is presently -34.75%.

Insider Activity

In related news, Director Bahram Akradi purchased 25,760 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $19.40 per share, with a total value of $499,744.00. Following the completion of the acquisition, the director owned 1,713,444 shares in the company, valued at approximately $33,240,813.60. This represents a 1.53% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

NOG has been the subject of several analyst reports. Mizuho raised shares of Northern Oil and Gas to a “hold” rating in a research report on Friday, July 31st. Raymond James Financial reiterated an “outperform” rating and set a $28.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, July 15th. Weiss Ratings raised shares of Northern Oil and Gas from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Morgan Stanley set a $25.00 target price on shares of Northern Oil and Gas and gave the company an “underweight” rating in a research report on Monday, June 29th. Finally, Citigroup lowered their target price on shares of Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Northern Oil and Gas presently has an average rating of “Hold” and a consensus price target of $30.62.

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.