Caxton Associates LLP Sells 85,584 Shares of Northern Oil and Gas, Inc. $NOG

Caxton Associates LLP trimmed its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 33.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 172,028 shares of the company’s stock after selling 85,584 shares during the period. Caxton Associates LLP’s holdings in Northern Oil and Gas were worth $5,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its holdings in Northern Oil and Gas by 14.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,092 shares of the company’s stock worth $66,000 after purchasing an additional 400 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in Northern Oil and Gas by 18.8% during the 4th quarter. SBI Securities Co. Ltd. now owns 3,207 shares of the company’s stock valued at $69,000 after buying an additional 507 shares during the last quarter. Virtus Investment Advisers LLC raised its stake in Northern Oil and Gas by 8.4% during the 4th quarter. Virtus Investment Advisers LLC now owns 7,394 shares of the company’s stock valued at $159,000 after buying an additional 572 shares during the last quarter. Isthmus Partners LLC raised its stake in Northern Oil and Gas by 0.8% during the 1st quarter. Isthmus Partners LLC now owns 82,358 shares of the company’s stock valued at $2,407,000 after buying an additional 619 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Northern Oil and Gas by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 91,485 shares of the company’s stock valued at $1,963,000 after buying an additional 633 shares during the period. Institutional investors own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NOG. Wall Street Zen downgraded Northern Oil and Gas from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Mizuho reduced their price objective on Northern Oil and Gas from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. Johnson Rice downgraded Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 target price on the stock. in a report on Wednesday, May 20th. Morgan Stanley set a $25.00 target price on Northern Oil and Gas and gave the stock an “underweight” rating in a research report on Monday, June 29th. Finally, Citigroup reduced their price target on shares of Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating for the company in a research report on Monday. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.62.

Insider Buying and Selling

In related news, Director Bahram Akradi acquired 25,760 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were purchased at an average price of $19.40 per share, with a total value of $499,744.00. Following the completion of the purchase, the director directly owned 1,713,444 shares of the company’s stock, valued at $33,240,813.60. This represents a 1.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is currently owned by insiders.

Northern Oil and Gas Trading Down 0.9%

Shares of NOG stock opened at $21.85 on Friday. Northern Oil and Gas, Inc. has a 1 year low of $17.18 and a 1 year high of $31.17. The firm has a fifty day moving average price of $20.74 and a 200-day moving average price of $24.15. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -3.43 and a beta of 0.69.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The firm had revenue of $5.03 million during the quarter, compared to analyst estimates of $511.38 million. During the same period in the prior year, the business posted $1.33 EPS. Northern Oil and Gas’s revenue was down 6.2% on a year-over-year basis. As a group, equities analysts predict that Northern Oil and Gas, Inc. will post 3.48 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be given a $0.45 dividend. The ex-dividend date is Monday, June 29th. This represents a $1.80 dividend on an annualized basis and a yield of 8.2%. Northern Oil and Gas’s dividend payout ratio is presently -28.26%.

Northern Oil and Gas Profile

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.