Quantbot Technologies LP Has $3.06 Million Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Quantbot Technologies LP boosted its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 27.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 82,340 shares of the company’s stock after purchasing an additional 17,909 shares during the period. Quantbot Technologies LP’s holdings in Northern Oil and Gas were worth $3,061,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NOG. Private Advisor Group LLC lifted its stake in Northern Oil and Gas by 37.9% in the 4th quarter. Private Advisor Group LLC now owns 8,437 shares of the company’s stock valued at $313,000 after purchasing an additional 2,319 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Northern Oil and Gas by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 734,485 shares of the company’s stock valued at $27,227,000 after purchasing an additional 74,430 shares during the last quarter. Principal Securities Inc. acquired a new stake in Northern Oil and Gas in the 4th quarter valued at about $42,000. Teacher Retirement System of Texas lifted its stake in Northern Oil and Gas by 12.2% in the 4th quarter. Teacher Retirement System of Texas now owns 15,424 shares of the company’s stock valued at $572,000 after purchasing an additional 1,681 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Northern Oil and Gas by 30.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock valued at $51,001,000 after purchasing an additional 324,958 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Northern Oil and Gas

In related news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the transaction, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.88, for a total value of $52,728.96. Following the sale, the president now owns 107,628 shares in the company, valued at $4,076,948.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the completion of the sale, the chief executive officer now owns 224,332 shares in the company, valued at approximately $8,526,859.32. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

Northern Oil and Gas Stock Up 1.3 %

Shares of NOG opened at $34.89 on Tuesday. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $43.80. The firm’s 50 day moving average is $38.54 and its 200-day moving average is $39.12. The stock has a market capitalization of $3.53 billion, a PE ratio of 5.65 and a beta of 1.81. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The company had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. During the same period last year, the firm earned $1.49 earnings per share. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.41 EPS for the current year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.82%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is 27.23%.

Analysts Set New Price Targets

Several research analysts have weighed in on NOG shares. StockNews.com cut shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Morgan Stanley lowered their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday. Bank of America increased their price target on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. Finally, Piper Sandler lowered their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Northern Oil and Gas currently has an average rating of “Moderate Buy” and a consensus price target of $47.78.

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.