Envestnet Asset Management Inc. Has $12.49 Million Position in Northern Oil and Gas, Inc. $NOG

Envestnet Asset Management Inc. boosted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 10.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 440,411 shares of the company’s stock after buying an additional 43,431 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Northern Oil and Gas were worth $12,486,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in Northern Oil and Gas by 6.4% during the 1st quarter. American Century Companies Inc. now owns 6,953,377 shares of the company’s stock worth $210,201,000 after acquiring an additional 415,781 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Northern Oil and Gas by 30.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company’s stock worth $129,939,000 after purchasing an additional 1,001,493 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Northern Oil and Gas by 25.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,951,505 shares of the company’s stock worth $56,867,000 after purchasing an additional 397,128 shares during the period. Channing Capital Management LLC grew its stake in shares of Northern Oil and Gas by 8.7% in the first quarter. Channing Capital Management LLC now owns 1,920,258 shares of the company’s stock worth $58,049,000 after purchasing an additional 153,635 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in Northern Oil and Gas by 2.3% in the first quarter. Westfield Capital Management Co. LP now owns 1,636,938 shares of the company’s stock valued at $49,485,000 after purchasing an additional 36,507 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Up 5.4%

Shares of NOG stock opened at $21.59 on Friday. Northern Oil and Gas, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $44.31. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a 50 day simple moving average of $23.91 and a two-hundred day simple moving average of $26.18. The company has a market cap of $2.11 billion, a P/E ratio of 3.56 and a beta of 1.48.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Monday, March 6th. The company reported $1.06 earnings per share (EPS) for the quarter. The firm had revenue of $319.19 million for the quarter. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%. Research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share 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. Investors of record on Tuesday, December 30th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, December 30th. This represents a $1.80 annualized dividend and a yield of 8.3%. Northern Oil and Gas’s dividend payout ratio is currently 29.70%.

Analyst Ratings Changes

Several research analysts recently issued reports on NOG shares. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 target price (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. Mizuho decreased their price target on 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. William Blair initiated coverage on Northern Oil and Gas in a research report on Monday, August 25th. They set an “outperform” rating for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Wednesday, October 8th. Finally, Citigroup decreased their target price on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.00.

Northern Oil and Gas 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.