King Luther Capital Management Corp Sells 3,650 Shares of Northern Oil and Gas, Inc. $NOG

King Luther Capital Management Corp lessened its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 9.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,750 shares of the company’s stock after selling 3,650 shares during the period. King Luther Capital Management Corp’s holdings in Northern Oil and Gas were worth $1,042,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC bought a new stake in shares of Northern Oil and Gas during the second quarter worth $421,000. Savant Capital LLC acquired a new stake in Northern Oil and Gas in the second quarter worth about $543,000. EFG Asset Management North America Corp. raised its holdings in Northern Oil and Gas by 18.0% during the 2nd quarter. EFG Asset Management North America Corp. now owns 115,536 shares of the company’s stock worth $3,275,000 after purchasing an additional 17,585 shares during the last quarter. Ellevest Inc. acquired a new position in Northern Oil and Gas during the 2nd quarter valued at about $334,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Northern Oil and Gas by 33.9% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 33,763 shares of the company’s stock valued at $957,000 after purchasing an additional 8,550 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $22.67 on Wednesday. The stock’s fifty day simple moving average is $23.75 and its 200 day simple moving average is $26.20. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $2.21 billion, a PE ratio of 3.74 and a beta of 1.48. Northern Oil and Gas, Inc. has a 12 month low of $19.88 and a 12 month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Monday, March 6th. The company reported $1.06 earnings per share (EPS) for the quarter. The company had revenue of $319.19 million during the quarter. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%. On average, research analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, December 30th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.9%. The ex-dividend date is Tuesday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is 101.69%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NOG. 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. Morgan Stanley reiterated 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 report on Tuesday, October 14th. Citigroup reduced their price target on 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. William Blair initiated coverage on Northern Oil and Gas in a report on Monday, August 25th. They issued an “outperform” rating for the company. Finally, Piper Sandler reissued a “neutral” rating and issued a $25.00 target price (down previously from $31.00) on shares of Northern Oil and Gas in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $33.00.

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.