Bridgewater Associates LP Boosts Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Bridgewater Associates LP lifted its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 135.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 511,170 shares of the company’s stock after purchasing an additional 294,223 shares during the quarter. Bridgewater Associates LP owned about 0.51% of Northern Oil and Gas worth $18,101,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. raised its position in shares of Northern Oil and Gas by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after buying an additional 552,645 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Northern Oil and Gas by 45.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after purchasing an additional 789,985 shares during the period. Copeland Capital Management LLC increased its holdings in Northern Oil and Gas by 0.6% in the 3rd quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock valued at $74,245,000 after purchasing an additional 12,079 shares during the last quarter. Bank of New York Mellon Corp raised its position in Northern Oil and Gas by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 1,220,044 shares of the company’s stock valued at $45,349,000 after purchasing an additional 49,632 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Northern Oil and Gas by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock worth $34,902,000 after purchasing an additional 103,314 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Trading Up 0.8 %

NYSE NOG opened at $43.46 on Thursday. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $44.31. The firm has a market cap of $4.34 billion, a PE ratio of 5.22 and a beta of 1.80. The firm’s fifty day moving average is $38.73 and its two-hundred day moving average is $38.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The firm had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. During the same period in the previous year, the business earned $1.73 earnings per share. The company’s revenue for the quarter was up 140.0% compared to the same quarter last year. Analysts expect that Northern Oil and Gas, Inc. will post 5.42 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.87%. Northern Oil and Gas’s payout ratio is 20.17%.

Insider Activity

In related news, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total transaction of $96,558.00. Following the sale, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. This trade represents a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the transaction, the insider now owns 105,713 shares of the company’s stock, valued at $3,727,440.38. This trade represents a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,508 shares of company stock worth $248,113 over the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Truist Financial boosted their price target on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada lowered shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They set a “buy” rating and a $53.00 target price for the company. Finally, Mizuho started coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Northern Oil and Gas Company Profile

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.