Doliver Advisors LP Trims Stake in Northern Oil and Gas, Inc. $NOG

Doliver Advisors LP reduced its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 3.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,146 shares of the company’s stock after selling 1,100 shares during the period. Doliver Advisors LP’s holdings in Northern Oil and Gas were worth $770,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue grew its position in shares of Northern Oil and Gas by 25.3% during the 1st quarter. State of Alaska Department of Revenue now owns 97,025 shares of the company’s stock valued at $2,932,000 after purchasing an additional 19,586 shares in the last quarter. American Century Companies Inc. grew its position in shares of Northern Oil and Gas by 6.4% during the 1st quarter. American Century Companies Inc. now owns 6,953,377 shares of the company’s stock valued at $210,201,000 after purchasing an additional 415,781 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Northern Oil and Gas by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 494,508 shares of the company’s stock valued at $14,949,000 after purchasing an additional 12,711 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Northern Oil and Gas by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,141,754 shares of the company’s stock valued at $34,515,000 after purchasing an additional 82,855 shares in the last quarter. Finally, Motley Fool Asset Management LLC grew its position in shares of Northern Oil and Gas by 21.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 85,483 shares of the company’s stock valued at $2,584,000 after purchasing an additional 14,945 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Performance

NYSE NOG opened at $25.50 on Friday. The company has a 50-day simple moving average of $26.46 and a two-hundred day simple moving average of $27.23. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. Northern Oil and Gas, Inc. has a 12-month low of $19.88 and a 12-month high of $44.31. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 4.21 and a beta of 1.67.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.50. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The business had revenue of $706.81 million during the quarter, compared to analyst estimates of $555.54 million. During the same period in the prior year, the business posted $1.46 earnings per share. The company’s revenue was up 26.0% on a year-over-year basis. On average, equities analysts forecast that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.1%. The ex-dividend date is Monday, September 29th. Northern Oil and Gas’s dividend payout ratio is presently 29.70%.

Analyst Ratings Changes

Several brokerages recently issued reports on NOG. Piper Sandler reiterated a “neutral” rating and issued a $25.00 target price (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. Bank of America upped their target price on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Citigroup upped their target price on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. William Blair began coverage on shares of Northern Oil and Gas in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Finally, Mizuho cut their target price on shares of Northern Oil and Gas from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Northern Oil and Gas has a consensus rating of “Moderate Buy” and a consensus price target of $36.89.

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.