Penn Capital Management Company LLC Has $8.40 Million Stock Holdings in Northern Oil and Gas, Inc. $NOG

Penn Capital Management Company LLC trimmed its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 17.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 462,547 shares of the company’s stock after selling 98,023 shares during the quarter. Penn Capital Management Company LLC’s holdings in Northern Oil and Gas were worth $8,404,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new position in shares of Northern Oil and Gas in the second quarter worth $29,000. Allworth Financial LP acquired a new position in Northern Oil and Gas in the second quarter valued at about $31,000. Ascentis Independent Advisors acquired a new position in Northern Oil and Gas in the first quarter valued at about $33,000. Jones Financial Companies Lllp lifted its position in Northern Oil and Gas by 181.0% during the first 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. Finally, Global Retirement Partners LLC lifted its position in Northern Oil and Gas by 572.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock worth $36,000 after purchasing an additional 1,432 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Bahram Akradi bought 25,760 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $19.40 per share, for a total transaction of $499,744.00. Following the completion of the transaction, the director directly owned 1,713,444 shares of the company’s stock, valued at approximately $33,240,813.60. This represents a 1.53% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 2.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on NOG shares. Morgan Stanley set a $25.00 target price on shares of Northern Oil and Gas and gave the company an “underweight” rating in a report on Monday, June 29th. Mizuho raised shares of Northern Oil and Gas to a “hold” rating in a report on Friday, July 31st. Weiss Ratings upgraded shares of Northern Oil and Gas from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Johnson Rice cut shares of Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 price objective on the stock. in a research note on Wednesday, May 20th. Finally, Citigroup lowered their price objective on shares of Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Northern Oil and Gas presently has a consensus rating of “Hold” and a consensus price target of $30.62.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $25.74 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The stock has a market cap of $2.74 billion, a PE ratio of -4.97 and a beta of 0.70. Northern Oil and Gas, Inc. has a 12-month low of $17.18 and a 12-month high of $31.17. The business’s 50-day moving average price is $21.57 and its two-hundred day moving average price is $24.20.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Thursday, August 6th. The company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%.The company had revenue of $745.24 million during the quarter, compared to the consensus estimate of $594.09 million. During the same period last year, the company posted $1.37 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, analysts expect that Northern Oil and Gas, Inc. will post 3.79 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.80 annualized dividend and a yield of 7.0%. Northern Oil and Gas’s dividend payout ratio is presently -34.75%.

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.