Northern Oil and Gas, Inc. $NOG Shares Bought by Wesbanco Bank Inc.

Wesbanco Bank Inc. boosted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 120.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,500 shares of the company’s stock after buying an additional 26,500 shares during the period. Wesbanco Bank Inc.’s holdings in Northern Oil and Gas were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Channing Capital Management LLC raised its position in shares of Northern Oil and Gas by 15.7% in the 3rd quarter. Channing Capital Management LLC now owns 1,702,177 shares of the company’s stock valued at $42,214,000 after purchasing an additional 230,899 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its position in Northern Oil and Gas by 390.1% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 72,721 shares of the company’s stock worth $1,803,000 after purchasing an additional 57,882 shares during the last quarter. 12th Street Asset Management Company LLC increased its stake in Northern Oil and Gas by 20.0% during the 3rd quarter. 12th Street Asset Management Company LLC now owns 240,730 shares of the company’s stock valued at $5,970,000 after purchasing an additional 40,181 shares in the last quarter. Maridea Wealth Management LLC acquired a new position in Northern Oil and Gas during the 3rd quarter valued at approximately $1,307,000. Finally, Register Financial Advisors LLC increased its stake in Northern Oil and Gas by 364.4% during the 3rd quarter. Register Financial Advisors LLC now owns 104,547 shares of the company’s stock valued at $2,593,000 after purchasing an additional 82,033 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOG has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their price target on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th. Piper Sandler upped their price target on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Mizuho set a $29.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, January 21st. Bank of America increased their price objective 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. Finally, Weiss Ratings lowered Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $32.00.

Northern Oil and Gas Stock Up 0.2%

Shares of NOG stock opened at $23.45 on Monday. The stock’s 50-day simple moving average is $27.55 and its 200-day simple moving average is $24.59. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market capitalization of $2.48 billion, a PE ratio of -3.68 and a beta of 0.75. Northern Oil and Gas, Inc. has a fifty-two week low of $20.18 and a fifty-two week high of $32.62.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The business 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%.The company’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 earnings per share. Equities analysts expect that Northern Oil and Gas, Inc. will post 3.23 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, March 30th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.7%. Northern Oil and Gas’s dividend payout ratio is currently -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.