Cwm LLC Boosts Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Cwm LLC raised its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOGGet Rating) by 46.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,132 shares of the company’s stock after acquiring an additional 358 shares during the quarter. Cwm LLC’s holdings in Northern Oil and Gas were worth $31,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC grew its holdings in shares of Northern Oil and Gas by 28.3% during the second quarter. FMR LLC now owns 5,809,993 shares of the company’s stock worth $146,761,000 after buying an additional 1,282,999 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Northern Oil and Gas by 7.9% during the first quarter. BlackRock Inc. now owns 4,438,695 shares of the company’s stock worth $125,127,000 after buying an additional 326,123 shares in the last quarter. State Street Corp grew its holdings in shares of Northern Oil and Gas by 3.7% during the second quarter. State Street Corp now owns 3,423,896 shares of the company’s stock worth $87,138,000 after buying an additional 122,883 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Northern Oil and Gas by 8.6% during the first quarter. Invesco Ltd. now owns 2,403,274 shares of the company’s stock worth $67,748,000 after buying an additional 189,595 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Northern Oil and Gas by 7.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,178,598 shares of the company’s stock worth $32,304,000 after buying an additional 78,759 shares in the last quarter. 96.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on NOG. Northland Securities lifted their price target on shares of Northern Oil and Gas from $50.00 to $60.00 in a report on Monday, November 14th. Truist Financial boosted their target price on shares of Northern Oil and Gas from $65.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, October 13th. Citigroup boosted their target price on shares of Northern Oil and Gas from $36.00 to $46.00 in a report on Friday, November 25th. Jefferies Financial Group began coverage on shares of Northern Oil and Gas in a report on Wednesday, October 19th. They issued a “buy” rating and a $37.00 target price for the company. Finally, Royal Bank of Canada boosted their target price on shares of Northern Oil and Gas from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, November 14th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas presently has an average rating of “Moderate Buy” and an average price target of $49.20.

Northern Oil and Gas Trading Up 2.1 %

NYSE NOG opened at $32.46 on Friday. The company’s fifty day simple moving average is $32.79 and its 200-day simple moving average is $31.19. Northern Oil and Gas, Inc. has a 52 week low of $20.02 and a 52 week high of $39.10. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.65. The stock has a market cap of $2.53 billion, a P/E ratio of 3.72, a PEG ratio of 0.17 and a beta of 1.97.

Northern Oil and Gas (NYSE:NOGGet Rating) last posted its earnings results on Tuesday, November 8th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.10. The firm had revenue of $534.05 million for the quarter, compared to analyst estimates of $412.87 million. Equities research analysts predict that Northern Oil and Gas, Inc. will post 6.99 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Thursday, December 29th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 3.70%. Northern Oil and Gas’s dividend payout ratio is currently 13.76%.

Insider Activity at Northern Oil and Gas

In related news, major shareholder Robert B. Rowling sold 261,000 shares of the company’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $37.45, for a total value of $9,774,450.00. Following the sale, the insider now directly owns 8,002,719 shares of the company’s stock, valued at $299,701,826.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,238 shares of the business’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $35.80, for a total transaction of $44,320.40. Following the completion of the sale, the insider now owns 80,122 shares in the company, valued at $2,868,367.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Robert B. Rowling sold 261,000 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $37.45, for a total transaction of $9,774,450.00. Following the sale, the insider now owns 8,002,719 shares of the company’s stock, valued at approximately $299,701,826.55. The disclosure for this sale can be found here. Insiders have sold 337,990 shares of company stock valued at $12,705,441 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

About Northern Oil and Gas

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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.

Further Reading

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

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