Jupiter Topco LLC Takes $756,000 Position in Northern Oil and Gas, Inc. $NOG

Jupiter Topco LLC purchased a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 41,620 shares of the company’s stock, valued at approximately $756,000.

A number of other hedge funds have also bought and sold shares of NOG. Northwestern Mutual Wealth Management Co. acquired a new stake in Northern Oil and Gas during the second quarter worth about $29,000. Allworth Financial LP acquired a new position in Northern Oil and Gas in the second quarter valued at approximately $31,000. Jones Financial Companies Lllp grew its holdings in shares of Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after purchasing an additional 713 shares during the last quarter. Ascentis Independent Advisors bought a new position in shares of Northern Oil and Gas during the first quarter valued at approximately $33,000. Finally, Global Retirement Partners LLC raised its position in shares of Northern Oil and Gas by 572.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock worth $36,000 after purchasing an additional 1,432 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $25.93 on Monday. 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 firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -5.01 and a beta of 0.73. The business has a 50 day simple moving average of $22.24 and a 200 day simple moving average of $24.20.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Thursday, August 6th. The company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.05). Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. The business had revenue of $745.24 million for the quarter, compared to the consensus estimate of $594.09 million. During the same period in the previous year, the firm earned $1.37 EPS. The firm’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 3.79 EPS for the current year.

Northern Oil and Gas Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on NOG shares. Wall Street Zen raised Northern Oil and Gas from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Citigroup dropped their target price on Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Mizuho raised shares of Northern Oil and Gas to a “hold” rating in a report on Friday, July 31st. Raymond James Financial reaffirmed an “outperform” rating and issued a $28.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, July 15th. Finally, Morgan Stanley set a $25.00 price objective on shares of Northern Oil and Gas and gave the company an “underweight” rating in a research report on Monday, June 29th. Three equities research 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, the company presently has an average rating of “Hold” and a consensus price target of $30.62.

Insiders Place Their Bets

In related news, Director Bahram Akradi bought 25,760 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average price of $19.40 per share, for a total transaction of $499,744.00. Following the transaction, the director directly owned 1,713,444 shares of the company’s stock, valued at approximately $33,240,813.60. This represents a 1.53% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by insiders.

About Northern Oil and Gas

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.