Northern Oil and Gas, Inc. (NYSE:NOG) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 10.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 111,744 shares of the company’s stock after acquiring an additional 10,214 shares during the period. Federated Hermes Inc.’s holdings in Northern Oil and Gas were worth $4,154,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after purchasing an additional 528 shares in the last quarter. Principal Securities Inc. purchased a new stake in Northern Oil and Gas in the 4th quarter valued at $42,000. TFO Wealth Partners LLC increased its stake in shares of Northern Oil and Gas by 112,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after acquiring an additional 1,121 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Northern Oil and Gas by 74.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after acquiring an additional 930 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of Northern Oil and Gas by 88.2% during the 2nd quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock valued at $82,000 after acquiring an additional 1,033 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NOG shares. Piper Sandler cut their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. Truist Financial increased their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley lowered their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.78.

Insiders Place Their Bets

In related news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction on Monday, July 8th. The stock was sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the transaction, the chief executive officer now directly owns 224,332 shares in the company, valued at $8,526,859.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the transaction, the chief executive officer now owns 224,332 shares in the company, valued at $8,526,859.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.88, for a total transaction of $52,728.96. Following the completion of the sale, the president now directly owns 107,628 shares in the company, valued at $4,076,948.64. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Northern Oil and Gas Trading Up 0.3 %

Shares of NYSE NOG opened at $36.17 on Thursday. The stock has a fifty day simple moving average of $38.46 and a 200-day simple moving average of $39.10. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $43.80. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $3.66 billion, a PE ratio of 5.86 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The company had revenue of $560.80 million for the quarter, compared to analyst estimates of $542.28 million. During the same period in the prior year, the firm earned $1.49 earnings per share. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities analysts forecast that Northern Oil and Gas, Inc. will post 5.41 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 $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.64%. The ex-dividend date is Friday, September 27th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 27.23%.

About Northern Oil and Gas

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.