Capstone Investment Advisors LLC Grows Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Capstone Investment Advisors LLC increased its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 8,679.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 512,972 shares of the company’s stock after acquiring an additional 507,129 shares during the quarter. Capstone Investment Advisors LLC’s holdings in Northern Oil and Gas were worth $20,355,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NOG. Vanguard Group Inc. lifted its stake in Northern Oil and Gas by 36.4% in the fourth quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after acquiring an additional 2,827,642 shares during the period. American Century Companies Inc. lifted its position in shares of Northern Oil and Gas by 27.0% during the third quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock valued at $103,085,000 after buying an additional 545,297 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Northern Oil and Gas by 30.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock valued at $51,001,000 after buying an additional 324,958 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Northern Oil and Gas by 69.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 403,420 shares of the company’s stock valued at $14,955,000 after buying an additional 165,382 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Northern Oil and Gas by 9.3% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,537,719 shares of the company’s stock valued at $57,003,000 after buying an additional 131,448 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.88, for a total value of $52,728.96. Following the transaction, the president now owns 107,628 shares in the company, valued at approximately $4,076,948.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Northern Oil and Gas news, insider James B. Evans sold 3,150 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the transaction, the insider now owns 73,753 shares in the company, valued at approximately $3,097,626. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $37.88, for a total value of $52,728.96. Following the completion of the transaction, the president now owns 107,628 shares in the company, valued at approximately $4,076,948.64. The disclosure for this sale can be found here. Insiders have sold 5,934 shares of company stock worth $241,906 in the last quarter. Corporate insiders own 2.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG traded down $0.79 during midday trading on Friday, reaching $38.07. 817,681 shares of the company’s stock traded hands, compared to its average volume of 1,384,707. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $43.75. The company has a market cap of $3.85 billion, a P/E ratio of 6.17 and a beta of 1.79. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.96 and a current ratio of 0.96. The company has a fifty day simple moving average of $39.07 and a two-hundred day simple moving average of $37.81.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The firm had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. During the same quarter last year, the firm posted $1.76 EPS. The business’s revenue was down 31.9% on a year-over-year basis. Equities analysts predict that Northern Oil and Gas, Inc. will post 4.95 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.20%. Northern Oil and Gas’s dividend payout ratio (DPR) is 25.93%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler increased their price target on shares of Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday. Stifel Nicolaus increased their price objective on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, Jefferies Financial Group increased their price objective on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.90.

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.