Easterly Investment Partners LLC Has $4.02 Million Stock Holdings in Northern Oil and Gas, Inc. $NOG

Easterly Investment Partners LLC increased its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 32.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 187,146 shares of the company’s stock after acquiring an additional 46,136 shares during the quarter. Easterly Investment Partners LLC’s holdings in Northern Oil and Gas were worth $4,018,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NOG. Deprince Race & Zollo Inc. acquired a new position in shares of Northern Oil and Gas during the 4th quarter worth about $25,492,000. Bridgeway Capital Management LLC acquired a new position in Northern Oil and Gas in the 3rd quarter valued at approximately $11,295,000. SG Americas Securities LLC raised its holdings in Northern Oil and Gas by 499.9% in the 4th quarter. SG Americas Securities LLC now owns 421,809 shares of the company’s stock valued at $9,056,000 after acquiring an additional 351,490 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Northern Oil and Gas by 5.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,941,662 shares of the company’s stock valued at $122,563,000 after acquiring an additional 235,869 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Northern Oil and Gas by 568.7% in the 2nd quarter. AQR Capital Management LLC now owns 272,719 shares of the company’s stock valued at $7,732,000 after acquiring an additional 231,938 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Trading Down 0.1%

Shares of NOG opened at $21.74 on Monday. Northern Oil and Gas, Inc. has a 1 year low of $20.18 and a 1 year high of $32.62. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The stock has a 50 day simple moving average of $26.15 and a 200-day simple moving average of $24.80. The stock has a market cap of $2.30 billion, a PE ratio of -3.41 and a beta of 0.68.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The business had revenue of $5.03 million during the quarter, compared to analysts’ expectations of $511.38 million. During the same period in the prior year, the firm posted $1.33 EPS. Northern Oil and Gas’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, sell-side analysts predict that Northern Oil and Gas, Inc. will post 3.37 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, June 29th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.3%. Northern Oil and Gas’s dividend payout ratio is presently -28.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NOG shares. 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 cut their price target for the company from $37.00 to $35.00 in a report on Thursday, May 21st. Citigroup cut their price target 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. Morgan Stanley reaffirmed an “underweight” rating and issued a $29.00 price target (up from $28.00) on shares of Northern Oil and Gas in a report on Friday, May 22nd. Finally, Bank of America upped their price target on Northern Oil and Gas from $27.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $33.00.

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.