Jefferies Financial Group Inc. Raises Stock Position in Northern Oil and Gas, Inc. $NOG

Jefferies Financial Group Inc. grew its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 55.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,152 shares of the company’s stock after buying an additional 31,152 shares during the quarter. Jefferies Financial Group Inc. owned 0.08% of Northern Oil and Gas worth $1,582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new stake in Northern Oil and Gas during the second quarter worth approximately $29,000. Allworth Financial LP purchased a new position in shares of Northern Oil and Gas in the 2nd quarter worth approximately $31,000. Ascentis Independent Advisors purchased a new position in shares of Northern Oil and Gas in the 1st quarter worth approximately $33,000. Jones Financial Companies Lllp raised its holdings in Northern Oil and Gas by 181.0% during the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after buying an additional 713 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in 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 valued at $36,000 after buying an additional 1,432 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Insiders Place Their Bets

In other news, Director Bahram Akradi bought 25,760 shares of the stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $19.40 per share, for a total transaction of $499,744.00. Following the acquisition, the director owned 1,713,444 shares of the company’s stock, valued at $33,240,813.60. This represents a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is currently owned by company insiders.

Northern Oil and Gas Trading Down 1.3%

NOG stock opened at $25.74 on Friday. Northern Oil and Gas, Inc. has a 12 month low of $17.18 and a 12 month high of $31.17. The firm’s 50-day moving average is $21.57 and its 200 day moving average is $24.20. The company has a market capitalization of $2.74 billion, a PE ratio of -4.97 and a beta of 0.70. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.80.

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

Northern Oil and Gas Dividend Announcement

The company 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 $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.80 annualized dividend and a yield of 7.0%. Northern Oil and Gas’s dividend payout ratio is -34.75%.

Analyst Ratings Changes

NOG has been the topic of a number of analyst reports. 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. Raymond James Financial reaffirmed an “outperform” rating and set a $28.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, July 15th. Wall Street Zen upgraded shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Mizuho raised shares of Northern Oil and Gas to a “hold” rating in a research note on Friday, July 31st. Finally, Citigroup dropped their target price on Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.