Raymond James Financial Services Advisors Inc. Increases Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Raymond James Financial Services Advisors Inc. increased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG – Get Rating) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,973 shares of the company’s stock after purchasing an additional 7,090 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Northern Oil and Gas were worth $3,728,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in Northern Oil and Gas by 7.2% during the 1st quarter. Bank of New York Mellon Corp now owns 434,031 shares of the company’s stock worth $12,236,000 after acquiring an additional 29,141 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Northern Oil and Gas in the 1st quarter valued at approximately $200,000. Cetera Advisor Networks LLC increased its holdings in shares of Northern Oil and Gas by 40.4% in the 1st quarter. Cetera Advisor Networks LLC now owns 17,783 shares of the company’s stock valued at $501,000 after acquiring an additional 5,121 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Northern Oil and Gas in the 1st quarter valued at approximately $207,000. Finally, Citigroup Inc. increased its holdings in shares of Northern Oil and Gas by 32.9% in the 1st quarter. Citigroup Inc. now owns 88,939 shares of the company’s stock valued at $2,507,000 after acquiring an additional 22,033 shares during the last quarter. Hedge funds and other institutional investors own 96.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted their price target on Northern Oil and Gas from $44.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, April 11th. Raymond James upped their price objective on Northern Oil and Gas from $47.00 to $52.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 21st. StockNews.com initiated coverage on Northern Oil and Gas in a research note on Thursday. They set a “sell” rating for the company. Piper Sandler lowered their price objective on Northern Oil and Gas from $50.00 to $47.00 in a research note on Thursday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $46.00 price objective on shares of Northern Oil and Gas in a research note on Friday, March 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.30.

Northern Oil and Gas Trading Up 0.7 %

Shares of Northern Oil and Gas stock opened at $31.18 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.68. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 2.06 and a beta of 2.02. The business has a fifty day simple moving average of $31.25 and a 200-day simple moving average of $32.34. Northern Oil and Gas, Inc. has a fifty-two week low of $21.45 and a fifty-two week high of $39.10.

Northern Oil and Gas (NYSE:NOG – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.22. The business had revenue of $582.21 million during the quarter, compared to analyst estimates of $395.37 million. Northern Oil and Gas had a return on equity of 86.66% and a net margin of 60.39%. During the same quarter in the prior year, the firm posted $1.58 earnings per share. On average, equities analysts forecast that Northern Oil and Gas, Inc. will post 7.99 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, June 29th will be issued a $0.37 dividend. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.34. The ex-dividend date is Wednesday, June 28th. This represents a $1.48 annualized dividend and a dividend yield of 4.75%. Northern Oil and Gas’s dividend payout ratio is 8.99%.

Northern Oil and Gas Profile

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Northern Oil & Gas, Inc engages in the acquisition, exploration, development, and production of crude oil and natural gas properties. It focuses on the Bakken and Three Forks formation within the Williston Basin in North Dakota and Montana. The company was founded on March 20, 2007 and is headquartered in Minnetonka, MN.