565,547 Shares in Northern Oil and Gas, Inc. $NOG Bought by Requisite Capital Management LLC

Requisite Capital Management LLC purchased a new position in Northern Oil and Gas, Inc. (NYSE:NOG) in the second quarter, HoldingsChannel.com reports. The firm purchased 565,547 shares of the company’s stock, valued at approximately $10,519,000. Northern Oil and Gas comprises 1.7% of Requisite Capital Management LLC’s holdings, making the stock its 7th biggest holding.

Several other large investors also recently modified their holdings of NOG. Plato Investment Management Ltd bought a new stake in Northern Oil and Gas in the second quarter valued at about $210,000. Bank of New York Mellon Corp bought a new stake in Northern Oil and Gas in the second quarter valued at $26,769,000. State of Wyoming bought a new stake in Northern Oil and Gas in the 2nd quarter valued at about $63,000. Doliver Advisors LP boosted its position in Northern Oil and Gas by 6.1% during the 2nd quarter. Doliver Advisors LP now owns 37,346 shares of the company’s stock worth $678,000 after acquiring an additional 2,155 shares during the period. Finally, Byrne Asset Management LLC increased its stake in Northern Oil and Gas by 10,630.0% during the 2nd quarter. Byrne Asset Management LLC now owns 10,730 shares of the company’s stock valued at $195,000 after buying an additional 10,630 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Bahram Akradi bought 25,760 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average price of $19.40 per share, for a total transaction of $499,744.00. Following the transaction, the director directly owned 1,713,444 shares of the company’s stock, valued at $33,240,813.60. This trade represents a 1.53% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $28.00 target price on shares of Northern Oil and Gas in a report on Wednesday, July 15th. Morgan Stanley set a $25.00 price objective on shares of Northern Oil and Gas and gave the company an “underweight” rating in a research report on Monday, June 29th. Mizuho upgraded Northern Oil and Gas to a “hold” rating in a report on Friday, July 31st. Johnson Rice lowered 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. Finally, Wall Street Zen upgraded shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a report on Saturday. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Hold” and a consensus price target of $30.62.

Northern Oil and Gas Price Performance

Shares of NOG stock opened at $25.47 on Tuesday. Northern Oil and Gas, Inc. has a 12 month low of $17.18 and a 12 month high of $31.17. The company has a market capitalization of $2.71 billion, a P/E ratio of -4.92 and a beta of 0.70. The stock has a 50 day moving average of $20.46 and a two-hundred day moving average of $24.10. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Thursday, August 6th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.05). Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%.The firm had revenue of $745.24 million during the quarter, compared to the consensus estimate of $594.09 million. During the same period last year, the business earned $1.37 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts expect that Northern Oil and Gas, Inc. will post 3.53 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.80 annualized dividend and a yield of 7.1%. Northern Oil and Gas’s payout ratio is currently -34.75%.

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.