Leonteq Securities AG Purchases New Position in Northern Oil and Gas, Inc. $NOG

Leonteq Securities AG purchased a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 25,546 shares of the company’s stock, valued at approximately $548,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOG. Deprince Race & Zollo Inc. purchased a new stake in Northern Oil and Gas in the fourth quarter valued at $25,492,000. Bridgeway Capital Management LLC purchased a new stake in shares of Northern Oil and Gas in the third quarter valued at about $11,295,000. SG Americas Securities LLC raised its holdings in shares of Northern Oil and Gas by 499.9% in the fourth quarter. SG Americas Securities LLC now owns 421,809 shares of the company’s stock valued at $9,056,000 after buying an additional 351,490 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Northern Oil and Gas by 5.0% in the third quarter. Dimensional Fund Advisors LP now owns 4,941,662 shares of the company’s stock valued at $122,563,000 after buying an additional 235,869 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Northern Oil and Gas by 568.7% in the second quarter. AQR Capital Management LLC now owns 272,719 shares of the company’s stock valued at $7,732,000 after buying an additional 231,938 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NOG shares. Bank of America upped their target price on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Piper Sandler upped their target price on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Morgan Stanley reaffirmed an “underweight” rating and issued a $29.00 target price (up from $28.00) on shares of Northern Oil and Gas in a report on Friday. Johnson Rice cut shares of Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 target price for the company. in a report on Wednesday. Finally, Royal Bank Of Canada upped their target price on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, April 8th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Northern Oil and Gas has a consensus rating of “Hold” and an average price target of $33.00.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $23.73 on Friday. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -3.73 and a beta of 0.75. Northern Oil and Gas, Inc. has a one year low of $20.18 and a one year high of $32.62. The company has a 50-day simple moving average of $26.69 and a 200-day simple moving average of $24.74. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.53.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $5.03 million during the quarter, compared to analysts’ expectations of $511.38 million. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. On average, analysts predict that Northern Oil and Gas, Inc. will post 3.13 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, June 29th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend is Monday, June 29th. Northern Oil and Gas’s dividend payout ratio is currently -28.26%.

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.