Edgestream Partners L.P. Has $4.67 Million Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Edgestream Partners L.P. increased its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 7.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 125,531 shares of the company’s stock after acquiring an additional 9,177 shares during the period. Edgestream Partners L.P. owned about 0.12% of Northern Oil and Gas worth $4,666,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in NOG. Vanguard Group Inc. boosted its position in shares of Northern Oil and Gas by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock valued at $392,480,000 after acquiring an additional 2,827,642 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Northern Oil and Gas by 45.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after buying an additional 789,985 shares during the last quarter. American Century Companies Inc. grew its stake in Northern Oil and Gas by 11.0% during the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after buying an additional 552,645 shares during the last quarter. Capstone Investment Advisors LLC grew its stake in Northern Oil and Gas by 8,679.3% during the first quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock worth $20,355,000 after buying an additional 507,129 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in Northern Oil and Gas by 13.8% during the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock worth $69,430,000 after buying an additional 212,030 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Bank of America upped their price objective on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Piper Sandler decreased their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. StockNews.com cut shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley cut their price objective 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. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.78.

Insider Buying and Selling

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

Northern Oil and Gas Trading Up 3.4 %

NOG opened at $36.08 on Wednesday. The firm’s fifty day moving average is $38.50 and its two-hundred day moving average is $39.12. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $3.65 billion, a PE ratio of 5.85 and a beta of 1.81. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $43.80.

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

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.66%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 27.23%.

About Northern Oil and Gas

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.