Y Intercept Hong Kong Ltd Takes $3.19 Million Position in Northern Oil and Gas, Inc. $NOG

Y Intercept Hong Kong Ltd bought a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 109,191 shares of the company’s stock, valued at approximately $3,192,000. Y Intercept Hong Kong Ltd owned 0.10% of Northern Oil and Gas as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in NOG. Jones Financial Companies Lllp grew its holdings in Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after purchasing an additional 713 shares during the period. Global Retirement Partners LLC lifted its position in shares of Northern Oil and Gas by 572.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock valued at $36,000 after acquiring an additional 1,432 shares during the period. Plato Investment Management Ltd bought a new position in shares of Northern Oil and Gas in the fourth quarter worth $43,000. EverSource Wealth Advisors LLC raised its stake in Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock valued at $43,000 after purchasing an additional 1,228 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Northern Oil and Gas by 85.7% during the second quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock worth $44,000 after purchasing an additional 702 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Price Performance

NOG stock traded up $0.71 during mid-day trading on Tuesday, reaching $18.09. 943,186 shares of the company’s stock were exchanged, compared to its average volume of 2,706,183. The stock’s 50 day moving average is $22.03 and its 200 day moving average is $24.27. Northern Oil and Gas, Inc. has a 12-month low of $17.18 and a 12-month high of $31.28. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -2.84 and a beta of 0.69. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.53 and a quick ratio of 0.53.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The company had revenue of $5.03 million for the quarter, compared to analyst estimates of $511.38 million. During the same quarter last year, the firm posted $1.33 EPS. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, research analysts expect that Northern Oil and Gas, Inc. will post 3.33 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, June 29th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 10.0%. The ex-dividend date is Monday, June 29th. Northern Oil and Gas’s dividend payout ratio is presently -28.26%.

Insider Transactions at Northern Oil and Gas

In related news, Director Bahram Akradi acquired 25,760 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average cost of $19.40 per share, for a total transaction of $499,744.00. Following the acquisition, the director owned 1,713,444 shares in the company, valued at approximately $33,240,813.60. This represents a 1.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NOG shares. Johnson Rice lowered Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 price target on the stock. in a research note on Wednesday, May 20th. Piper Sandler upped their target price on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Wall Street Zen downgraded shares of Northern Oil and Gas from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings downgraded shares of Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada raised their target price on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.88.

About Northern Oil and Gas

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.