Creative Planning Purchases 10,580 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Creative Planning lifted its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 80.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 23,712 shares of the company’s stock after acquiring an additional 10,580 shares during the quarter. Creative Planning’s holdings in Northern Oil and Gas were worth $881,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NOG. Teachers Retirement System of The State of Kentucky grew its holdings in Northern Oil and Gas by 18.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 31,030 shares of the company’s stock worth $1,150,000 after acquiring an additional 4,800 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Northern Oil and Gas by 10.5% during the fourth quarter. Wellington Management Group LLP now owns 461,090 shares of the company’s stock valued at $17,093,000 after purchasing an additional 43,825 shares in the last quarter. Vanguard Group Inc. increased its holdings in Northern Oil and Gas by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock valued at $392,480,000 after buying an additional 2,827,642 shares during the period. Insight Wealth Strategies LLC raised its stake in Northern Oil and Gas by 4.4% in the first quarter. Insight Wealth Strategies LLC now owns 26,480 shares of the company’s stock worth $1,051,000 after buying an additional 1,114 shares in the last quarter. Finally, RFG Advisory LLC lifted its holdings in Northern Oil and Gas by 21.0% during the first quarter. RFG Advisory LLC now owns 7,439 shares of the company’s stock worth $295,000 after buying an additional 1,291 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Trading Up 1.6 %

NYSE:NOG opened at $39.87 on Friday. The company has a market capitalization of $3.99 billion, a P/E ratio of 7.06 and a beta of 1.81. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $43.80. The firm has a fifty day simple moving average of $37.50 and a 200-day simple moving average of $39.10.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The business had revenue of $560.80 million for the quarter, compared to the consensus estimate of $542.28 million. During the same quarter in the previous year, the business earned $1.49 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.29 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, September 27th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 4.21%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 29.73%.

Wall Street Analyst Weigh In

Several research firms have recently commented on NOG. Bank of America boosted their price target on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Morgan Stanley cut their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Jefferies Financial Group started coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 target price for the company. Finally, Truist Financial cut their price target on shares of Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.

Insider Buying and Selling at Northern Oil and Gas

In other news, insider Erik J. Romslo sold 1,500 shares of the 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 sale, the insider now owns 105,713 shares in the company, valued at $3,727,440.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of the company’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 sale, the insider now directly owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now owns 107,876 shares of the company’s stock, valued at $4,153,226. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,008 shares of company stock worth $228,013. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas 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.