Pin Oak Investment Advisors Inc. Acquires Shares of 109,108 Northern Oil and Gas, Inc. $NOG

Pin Oak Investment Advisors Inc. bought a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 109,108 shares of the company’s stock, valued at approximately $3,190,000. Northern Oil and Gas accounts for about 1.7% of Pin Oak Investment Advisors Inc.’s portfolio, making the stock its 11th biggest position. Pin Oak Investment Advisors Inc. owned about 0.10% of Northern Oil and Gas at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Northern Oil and Gas by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 10,873,455 shares of the company’s stock worth $233,453,000 after purchasing an additional 141,499 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Northern Oil and Gas during the second quarter valued at approximately $26,769,000. Charles Schwab Investment Management Inc. boosted its position in shares of Northern Oil and Gas by 7.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,450,294 shares of the company’s stock valued at $31,138,000 after buying an additional 105,876 shares during the period. Bank of America Corp DE grew its stake in shares of Northern Oil and Gas by 18.5% during the first quarter. Bank of America Corp DE now owns 1,245,639 shares of the company’s stock valued at $36,410,000 after buying an additional 194,861 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Northern Oil and Gas by 116.8% during the first quarter. First Trust Advisors LP now owns 1,167,971 shares of the company’s stock valued at $34,140,000 after buying an additional 629,197 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Down 1.3%

Shares of NYSE NOG opened at $25.74 on Friday. Northern Oil and Gas, Inc. has a 52-week low of $17.18 and a 52-week high of $31.17. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -4.97 and a beta of 0.70. The stock has a 50 day moving average price of $21.57 and a 200 day moving average price of $24.20. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.80.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.05). The firm had revenue of $745.24 million for the quarter, compared to analysts’ expectations of $594.09 million. Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%.The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.37 earnings per share. Sell-side analysts expect that Northern Oil and Gas, Inc. will post 3.79 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 29th. This represents a $1.80 annualized dividend and a dividend yield of 7.0%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently -34.75%.

Analysts Set New Price Targets

NOG has been the subject of a number of research analyst reports. Citigroup decreased their price target on Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Wall Street Zen upgraded Northern Oil and Gas from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Mizuho raised shares of Northern Oil and Gas to a “hold” rating in a research note on Friday, July 31st. Johnson Rice cut shares of Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 price target on the stock. in a report on Wednesday, May 20th. Finally, Weiss Ratings raised shares of Northern Oil and Gas from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Northern Oil and Gas has a consensus rating of “Hold” and an average price target of $30.62.

Insider Activity at Northern Oil and Gas

In other news, Director Bahram Akradi acquired 25,760 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost of $19.40 per share, for a total transaction of $499,744.00. Following the completion of the acquisition, the director directly owned 1,713,444 shares of the company’s stock, valued at $33,240,813.60. The trade was a 1.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Northern Oil and Gas Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.