Victory Capital Management Inc. Purchases 532,916 Shares of Northern Oil and Gas, Inc. (NYSEAMERICAN:NOG)

Victory Capital Management Inc. grew its position in Northern Oil and Gas, Inc. (NYSEAMERICAN:NOGGet Rating) by 363.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 679,432 shares of the energy company’s stock after buying an additional 532,916 shares during the period. Victory Capital Management Inc. owned 0.88% of Northern Oil and Gas worth $19,078,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Capital World Investors boosted its stake in Northern Oil and Gas by 24.2% in the 4th quarter. Capital World Investors now owns 6,054,000 shares of the energy company’s stock worth $124,591,000 after purchasing an additional 1,179,000 shares in the last quarter. Copeland Capital Management LLC raised its position in Northern Oil and Gas by 7.5% during the 1st quarter. Copeland Capital Management LLC now owns 2,608,261 shares of the energy company’s stock worth $73,527,000 after buying an additional 182,261 shares during the last quarter. Invesco Ltd. raised its position in Northern Oil and Gas by 30.2% during the 4th quarter. Invesco Ltd. now owns 2,213,679 shares of the energy company’s stock worth $45,557,000 after buying an additional 513,002 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Northern Oil and Gas during the 4th quarter worth approximately $36,043,000. Finally, Millennium Management LLC raised its position in Northern Oil and Gas by 118.6% during the 4th quarter. Millennium Management LLC now owns 1,151,007 shares of the energy company’s stock worth $23,688,000 after buying an additional 624,541 shares during the last quarter. 88.47% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Price Performance

Shares of NYSEAMERICAN NOG opened at $25.69 on Friday. The firm has a market capitalization of $1.99 billion, a P/E ratio of -25.19, a P/E/G ratio of 0.51 and a beta of 2.25. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 3.73. Northern Oil and Gas, Inc. has a one year low of $14.03 and a one year high of $39.10.

Northern Oil and Gas (NYSEAMERICAN:NOGGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The energy company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.20 by $0.38. The company had revenue of $456.46 million during the quarter, compared to analyst estimates of $321.67 million. Northern Oil and Gas had a net margin of 1.28% and a negative return on equity of 351.74%. During the same quarter in the previous year, the firm earned $0.62 EPS. As a group, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.76 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Thursday, September 29th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.89%. The ex-dividend date is Wednesday, September 28th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.19. Northern Oil and Gas’s payout ratio is -74.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup raised their price target on shares of Northern Oil and Gas from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, April 26th. Raymond James raised their price target on shares of Northern Oil and Gas from $48.00 to $55.00 in a research report on Thursday, June 9th. Bank of America reduced their price target on shares of Northern Oil and Gas from $38.00 to $32.00 in a research report on Tuesday, July 19th. TheStreet lowered shares of Northern Oil and Gas from a “c-” rating to a “d” rating in a research report on Thursday, May 5th. Finally, Wells Fargo & Company cut their target price on shares of Northern Oil and Gas from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, July 11th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.56.

Insiders Place Their Bets

In other Northern Oil and Gas news, major shareholder Robert B. Rowling sold 400,000 shares of Northern Oil and Gas stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $33.26, for a total transaction of $13,304,000.00. Following the sale, the insider now owns 8,563,719 shares of the company’s stock, valued at approximately $284,829,293.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Robert B. Rowling sold 400,000 shares of the business’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $33.26, for a total transaction of $13,304,000.00. Following the transaction, the insider now owns 8,563,719 shares of the company’s stock, valued at approximately $284,829,293.94. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Robert B. Rowling sold 117,860 shares of the business’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $33.01, for a total transaction of $3,890,558.60. Following the transaction, the insider now directly owns 8,263,719 shares in the company, valued at approximately $272,785,364.19. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by corporate insiders.

Northern Oil and Gas Profile

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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. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.

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Institutional Ownership by Quarter for Northern Oil and Gas (NYSEAMERICAN:NOG)

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