Elevation Point Wealth Partners LLC Acquires 2,799 Shares of Northern Oil and Gas, Inc. $NOG

Elevation Point Wealth Partners LLC lifted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 27.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,843 shares of the company’s stock after buying an additional 2,799 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Northern Oil and Gas were worth $364,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NOG. Advisors Asset Management Inc. purchased a new stake in Northern Oil and Gas in the second quarter worth about $416,000. Laurel Wealth Advisors LLC boosted its position in shares of Northern Oil and Gas by 2,736.1% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock worth $29,000 after purchasing an additional 985 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Northern Oil and Gas by 5.5% in the 2nd quarter. Prudential Financial Inc. now owns 102,713 shares of the company’s stock worth $2,912,000 after buying an additional 5,375 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of Northern Oil and Gas by 2.5% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 94,756 shares of the company’s stock worth $2,686,000 after buying an additional 2,280 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Northern Oil and Gas by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 248,873 shares of the company’s stock valued at $7,056,000 after buying an additional 1,455 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Wednesday, October 8th. Citigroup dropped their price target on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, October 20th. Piper Sandler restated a “neutral” rating and set a $25.00 price objective (down from $31.00) on shares of Northern Oil and Gas in a research note on Monday, August 4th. Mizuho decreased their target price on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, September 15th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $26.00 price target (down previously from $27.00) on shares of Northern Oil and Gas in a report on Tuesday, October 14th. 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $33.00.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $21.94 on Friday. Northern Oil and Gas, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $43.82. The business has a 50-day simple moving average of $22.83 and a two-hundred day simple moving average of $25.85. 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 firm has a market cap of $2.14 billion, a price-to-earnings ratio of 3.62 and a beta of 1.48.

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. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The firm had revenue of $319.19 million for the quarter. On average, analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

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 paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 8.2%. Northern Oil and Gas’s payout ratio is currently 101.69%.

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.