Easterly Investment Partners LLC Acquires 900 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Easterly Investment Partners LLC boosted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 1.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 81,406 shares of the company’s stock after acquiring an additional 900 shares during the quarter. Easterly Investment Partners LLC owned 0.08% of Northern Oil and Gas worth $2,461,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of NOG. Headlands Technologies LLC purchased a new stake in shares of Northern Oil and Gas during the 4th quarter worth approximately $29,000. Signaturefd LLC lifted its stake in Northern Oil and Gas by 60.0% in the first quarter. Signaturefd LLC now owns 1,080 shares of the company’s stock worth $33,000 after purchasing an additional 405 shares during the last quarter. Byrne Asset Management LLC increased its position in shares of Northern Oil and Gas by 54.9% in the first quarter. Byrne Asset Management LLC now owns 1,363 shares of the company’s stock valued at $41,000 after acquiring an additional 483 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Northern Oil and Gas by 127.7% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company’s stock valued at $45,000 after acquiring an additional 835 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in shares of Northern Oil and Gas during the first quarter valued at about $54,000. Institutional investors own 98.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NOG shares. Bank of America upped their price objective on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Raymond James Financial restated a “strong-buy” rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Citigroup upped their price objective on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Morgan Stanley cut their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Finally, Piper Sandler cut their price objective on shares of Northern Oil and Gas from $34.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.67.

Northern Oil and Gas Trading Down 3.6%

Shares of NYSE NOG opened at $26.96 on Thursday. The firm’s 50 day moving average price is $29.04 and its 200-day moving average price is $30.58. The company has a market cap of $2.66 billion, a PE ratio of 4.20 and a beta of 1.50. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 0.92.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.21. The company had revenue of $602.10 million for the quarter, compared to the consensus estimate of $568.87 million. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. The firm’s revenue for the quarter was up 51.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 earnings per share. On average, equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.80 dividend on an annualized basis and a yield of 6.68%. Northern Oil and Gas’s dividend payout ratio (DPR) is 28.04%.

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.