Ziegler Capital Management LLC Grows Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Ziegler Capital Management LLC lifted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOGFree Report) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,610 shares of the company’s stock after purchasing an additional 707 shares during the quarter. Ziegler Capital Management LLC’s holdings in Northern Oil and Gas were worth $801,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of NOG. BlackRock Inc. grew its holdings in shares of Northern Oil and Gas by 137.7% during the 1st quarter. BlackRock Inc. now owns 10,915,028 shares of the company’s stock worth $331,271,000 after purchasing an additional 6,322,462 shares during the period. Vanguard Group Inc. lifted its stake in Northern Oil and Gas by 26.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,759,894 shares of the company’s stock worth $312,181,000 after acquiring an additional 1,635,739 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Northern Oil and Gas by 1,356.2% during the 2nd quarter. Alliancebernstein L.P. now owns 979,729 shares of the company’s stock worth $33,624,000 after acquiring an additional 912,449 shares in the last quarter. State Street Corp lifted its stake in Northern Oil and Gas by 29.0% during the 1st quarter. State Street Corp now owns 3,301,013 shares of the company’s stock worth $93,518,000 after acquiring an additional 742,371 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Northern Oil and Gas by 19.0% during the 3rd quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock worth $152,318,000 after acquiring an additional 605,197 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Northern Oil and Gas

In related news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $35.63, for a total transaction of $133,612.50. Following the transaction, the chief executive officer now owns 220,825 shares in the company, valued at approximately $7,867,994.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider James B. Evans sold 945 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the transaction, the insider now owns 83,872 shares in the company, valued at approximately $3,187,136. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $35.63, for a total value of $133,612.50. Following the transaction, the chief executive officer now owns 220,825 shares in the company, valued at approximately $7,867,994.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,794 shares of company stock valued at $284,252. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NOG. Jefferies Financial Group increased their target price on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. Raymond James decreased their target price on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Morgan Stanley started coverage on Northern Oil and Gas in a research report on Friday, January 5th. They issued an “equal weight” rating and a $40.00 price target on the stock. Finally, Stifel Nicolaus reduced their price target on Northern Oil and Gas from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.60.

View Our Latest Research Report on NOG

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $39.47 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.32 and a current ratio of 1.32. Northern Oil and Gas, Inc. has a fifty-two week low of $26.91 and a fifty-two week high of $43.64. The firm has a market capitalization of $3.98 billion, a PE ratio of 3.93 and a beta of 1.85. The stock’s 50-day simple moving average is $34.93 and its 200-day simple moving average is $37.14.

Northern Oil and Gas (NYSE:NOGGet Free Report) last issued its earnings results on Friday, February 23rd. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.03). Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The business had revenue of $543.40 million for the quarter, compared to analyst estimates of $555.31 million. During the same period last year, the business posted $1.43 EPS. Northern Oil and Gas’s revenue was up 21.9% on a year-over-year basis. As a group, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.72 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 15.94%.

About Northern Oil and Gas

(Free Report)

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. It 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 (NYSE:NOG)

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