Hood River Capital Management LLC Reduces Position in Northern Oil and Gas, Inc. $NOG

Hood River Capital Management LLC cut its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 11.3% during the second quarter, HoldingsChannel.com reports. The fund owned 1,222,845 shares of the company’s stock after selling 155,135 shares during the period. Hood River Capital Management LLC’s holdings in Northern Oil and Gas were worth $34,668,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NOG. Cetera Investment Advisers lifted its stake in Northern Oil and Gas by 12.6% in the 1st quarter. Cetera Investment Advisers now owns 15,484 shares of the company’s stock worth $468,000 after purchasing an additional 1,735 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Northern Oil and Gas by 20.7% in the first quarter. LPL Financial LLC now owns 78,146 shares of the company’s stock valued at $2,362,000 after purchasing an additional 13,377 shares during the last quarter. XTX Topco Ltd purchased a new position in Northern Oil and Gas during the first quarter worth approximately $256,000. New Age Alpha Advisors LLC lifted its position in Northern Oil and Gas by 71.3% during the first quarter. New Age Alpha Advisors LLC now owns 10,082 shares of the company’s stock worth $305,000 after buying an additional 4,195 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Northern Oil and Gas by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,141,754 shares of the company’s stock worth $34,515,000 after buying an additional 82,855 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Up 0.9%

Northern Oil and Gas stock opened at $24.87 on Monday. The company has a market capitalization of $2.43 billion, a PE ratio of 14.05 and a beta of 1.05. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.10 and a current ratio of 1.10. Northern Oil and Gas, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $42.35. The firm has a 50 day moving average price of $22.54 and a 200 day moving average price of $25.68.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Monday, March 6th. The company reported $1.06 EPS for the quarter. Northern Oil and Gas had a return on equity of 20.61% and a net margin of 7.61%.The business had revenue of $319.19 million during the quarter. Research analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 7.2%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 101.69%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NOG. Citigroup lowered their price target on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Mizuho dropped their price target on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, September 15th. Weiss Ratings restated a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Wednesday, October 8th. William Blair started coverage on Northern Oil and Gas in a report on Monday, August 25th. They issued an “outperform” rating on the stock. Finally, Morgan Stanley reissued an “underweight” rating and set a $26.00 target price (down previously from $27.00) on shares of Northern Oil and Gas in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Northern Oil and Gas has a consensus rating of “Hold” and a consensus price target of $33.00.

Northern Oil and Gas 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.