TCTC Holdings LLC Buys 2,000 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

TCTC Holdings LLC increased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 20.0% in the first quarter, Holdings Channel reports. The firm owned 12,000 shares of the company’s stock after buying an additional 2,000 shares during the quarter. TCTC Holdings LLC’s holdings in Northern Oil and Gas were worth $363,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new position in shares of Northern Oil and Gas during the 4th quarter worth about $739,000. LPL Financial LLC raised its position in shares of Northern Oil and Gas by 7.7% in the 4th quarter. LPL Financial LLC now owns 64,769 shares of the company’s stock valued at $2,407,000 after acquiring an additional 4,631 shares during the period. Vanguard Group Inc. boosted its stake in Northern Oil and Gas by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company’s stock worth $418,916,000 after acquiring an additional 166,501 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Northern Oil and Gas by 3.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 23,232 shares of the company’s stock valued at $863,000 after purchasing an additional 876 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in Northern Oil and Gas in the fourth quarter valued at approximately $219,000. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Trading Down 0.6%

NYSE NOG opened at $29.54 on Wednesday. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $44.31. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s 50 day moving average price is $29.03 and its two-hundred day moving average price is $29.89. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 4.60 and a beta of 1.50.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.21. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. The business had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. During the same quarter in the previous year, the firm posted $1.28 earnings per share. The firm’s revenue for the quarter was up 51.9% on a year-over-year basis. As a group, analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, June 27th. This represents a $1.80 annualized dividend and a yield of 6.09%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 28.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada reduced their price target on shares of Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Monday, July 14th. Raymond James Financial reissued a “strong-buy” rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Piper Sandler raised their price target on Northern Oil and Gas from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Mizuho cut their price objective on Northern Oil and Gas from $33.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, July 16th. Finally, Citigroup increased their target price on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $38.78.

About Northern Oil and Gas

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.