Penn Capital Management Company LLC Decreases Stake in Northern Oil and Gas, Inc. $NOG

Penn Capital Management Company LLC lowered its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 4.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 494,843 shares of the company’s stock after selling 23,196 shares during the quarter. Penn Capital Management Company LLC’s holdings in Northern Oil and Gas were worth $10,651,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NOG. AQR Capital Management LLC grew its holdings in shares of Northern Oil and Gas by 55.1% during the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $1,233,000 after purchasing an additional 14,492 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Northern Oil and Gas by 3.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,334 shares of the company’s stock worth $1,763,000 after purchasing an additional 1,865 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of 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 worth $33,000 after purchasing an additional 713 shares during the period. Empowered Funds LLC grew its holdings in shares of Northern Oil and Gas by 5.0% during the 1st quarter. Empowered Funds LLC now owns 65,217 shares of the company’s stock worth $1,972,000 after purchasing an additional 3,124 shares during the period. Finally, Intech Investment Management LLC grew its holdings in shares of Northern Oil and Gas by 41.8% during the 1st quarter. Intech Investment Management LLC now owns 46,453 shares of the company’s stock worth $1,404,000 after purchasing an additional 13,690 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citigroup decreased their target price on Northern Oil and Gas from $39.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Weiss Ratings cut Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Raymond James Financial cut Northern Oil and Gas from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $37.00 to $35.00 in a report on Thursday, May 21st. Bank of America boosted their target price on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Finally, Johnson Rice cut 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, May 20th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $33.00.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $22.37 on Wednesday. The stock’s 50 day moving average price is $26.51 and its 200 day moving average price is $24.79. The firm has a market capitalization of $2.37 billion, a PE ratio of -3.51 and a beta of 0.75. 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, Inc. has a one year low of $20.18 and a one year high of $32.62.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $5.03 million for the quarter, compared to analyst estimates of $511.38 million. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.Northern Oil and Gas’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 EPS. As a group, sell-side analysts expect that Northern Oil and Gas, Inc. will post 3.38 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, June 29th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $1.80 annualized dividend and a yield of 8.0%. Northern Oil and Gas’s payout ratio is -28.26%.

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.