Freedom Investment Management Inc. Purchases 2,632 Shares of Northern Oil and Gas, Inc. $NOG

Freedom Investment Management Inc. grew its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 28.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,742 shares of the company’s stock after purchasing an additional 2,632 shares during the quarter. Freedom Investment Management Inc.’s holdings in Northern Oil and Gas were worth $355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of NOG. Marshall Wace LLP boosted its position in shares of Northern Oil and Gas by 9.7% in the fourth quarter. Marshall Wace LLP now owns 9,540 shares of the company’s stock worth $355,000 after purchasing an additional 840 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Northern Oil and Gas by 187.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,347 shares of the company’s stock worth $87,000 after purchasing an additional 1,530 shares during the period. State of Tennessee Department of Treasury lifted its holdings in shares of Northern Oil and Gas by 16.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 26,892 shares of the company’s stock worth $999,000 after buying an additional 3,805 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Northern Oil and Gas by 11.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 67,746 shares of the company’s stock worth $2,518,000 after buying an additional 6,989 shares in the last quarter. Finally, Aquatic Capital Management LLC lifted its holdings in shares of Northern Oil and Gas by 453.8% in the fourth quarter. Aquatic Capital Management LLC now owns 38,210 shares of the company’s stock worth $1,420,000 after buying an additional 31,310 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Trading Up 2.0%

Shares of NOG opened at $25.81 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. Northern Oil and Gas, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $44.31. The stock has a market capitalization of $2.52 billion, a PE ratio of 4.26 and a beta of 1.55. The company’s fifty day moving average is $27.40 and its 200 day moving average is $27.98.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.50. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The business had revenue of $706.81 million for the quarter, compared to analysts’ expectations of $555.54 million. During the same quarter in the previous year, the business posted $1.46 earnings per share. The business’s revenue was up 26.0% compared to the same quarter last year. Sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 7.0%. Northern Oil and Gas’s payout ratio is 29.70%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NOG. Morgan Stanley downgraded shares of Northern Oil and Gas from a “positive” rating to an “underweight” rating and lowered their target price for the stock from $29.00 to $27.00 in a report on Monday, August 18th. Bank of America boosted their target price on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Raymond James Financial reissued a “strong-buy” rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Citigroup boosted their target price on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Finally, Piper Sandler reissued a “neutral” rating and issued a $25.00 target price (down previously from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.89.

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.