76,613 Shares in Northern Oil and Gas, Inc. $NOG Purchased by First National Bank of Omaha

First National Bank of Omaha acquired a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 76,613 shares of the company’s stock, valued at approximately $1,391,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of Northern Oil and Gas in the second quarter valued at approximately $26,769,000. First Trust Advisors LP raised its holdings in shares of Northern Oil and Gas by 116.8% during the first quarter. First Trust Advisors LP now owns 1,167,971 shares of the company’s stock valued at $34,140,000 after buying an additional 629,197 shares during the last quarter. Requisite Capital Management LLC acquired a new position in shares of Northern Oil and Gas during the second quarter worth approximately $10,519,000. Bridgeway Capital Management LLC acquired a new position in shares of Northern Oil and Gas during the third quarter worth approximately $11,295,000. Finally, Hsbc Holdings PLC bought a new position in Northern Oil and Gas in the 1st quarter worth approximately $8,115,000. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Up 2.7%

Northern Oil and Gas stock opened at $26.08 on Thursday. Northern Oil and Gas, Inc. has a 12-month low of $17.18 and a 12-month high of $31.17. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $2.78 billion, a PE ratio of -5.04 and a beta of 0.70. The firm has a 50 day simple moving average of $20.64 and a 200-day simple moving average of $24.12.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Thursday, August 6th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.05). The firm had revenue of $745.24 million for the quarter, compared to the consensus estimate of $594.09 million. Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%.Northern Oil and Gas’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.37 EPS. As a group, equities research analysts expect that Northern Oil and Gas, Inc. will post 3.53 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Tuesday, September 29th. Northern Oil and Gas’s payout ratio is currently -34.75%.

Insider Activity at Northern Oil and Gas

In other news, Director Bahram Akradi acquired 25,760 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was acquired at an average price of $19.40 per share, for a total transaction of $499,744.00. Following the completion of the acquisition, the director directly owned 1,713,444 shares in the company, valued at $33,240,813.60. This represents a 1.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley set a $25.00 target price on Northern Oil and Gas and gave the company an “underweight” rating in a research report on Monday, June 29th. Johnson Rice cut Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 price target for the company. in a research note on Wednesday, May 20th. Raymond James Financial reissued an “outperform” rating and issued a $28.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, July 15th. Citigroup cut their price objective on shares of Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Finally, Wall Street Zen upgraded shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.62.

Northern Oil and Gas Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.