Hsbc Holdings PLC Takes $8.12 Million Position in Northern Oil and Gas, Inc. $NOG

Hsbc Holdings PLC purchased a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 274,252 shares of the company’s stock, valued at approximately $8,115,000.

Other institutional investors have also recently bought and sold shares of the company. Range Financial Group LLC increased its position in Northern Oil and Gas by 13.4% in the 1st quarter. Range Financial Group LLC now owns 10,704 shares of the company’s stock valued at $313,000 after acquiring an additional 1,263 shares in the last quarter. Isthmus Partners LLC increased its holdings in shares of Northern Oil and Gas by 0.8% in the first quarter. Isthmus Partners LLC now owns 82,358 shares of the company’s stock valued at $2,407,000 after purchasing an additional 619 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Northern Oil and Gas by 7.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,894 shares of the company’s stock worth $698,000 after purchasing an additional 1,700 shares during the last quarter. Abel Hall LLC bought a new position in Northern Oil and Gas in the 1st quarter worth approximately $684,000. Finally, Ascentis Independent Advisors acquired a new position in Northern Oil and Gas during the 1st quarter worth $33,000. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Up 0.8%

Shares of Northern Oil and Gas stock opened at $22.08 on Thursday. The business has a fifty day simple moving average of $20.77 and a 200 day simple moving average of $24.15. The stock has a market cap of $2.40 billion, a PE ratio of -3.47 and a beta of 0.69. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.43. Northern Oil and Gas, Inc. has a 12 month low of $17.18 and a 12 month high of $31.17.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $5.03 million for the quarter, compared to analyst estimates of $511.38 million. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. Research analysts predict that Northern Oil and Gas, Inc. will post 3.48 EPS for the current year.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, June 29th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date is Monday, June 29th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently -28.26%.

Insiders Place Their Bets

In other news, Director Bahram Akradi acquired 25,760 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average price of $19.40 per share, with a total value of $499,744.00. Following the purchase, the director directly owned 1,713,444 shares of the company’s stock, valued at $33,240,813.60. The trade was a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NOG has been the subject of several research reports. Weiss Ratings cut Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Mizuho decreased their price target on Northern Oil and Gas from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Royal Bank Of Canada lifted their price objective on Northern Oil and Gas from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. Wall Street Zen cut Northern Oil and Gas from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Citigroup reduced their target price on shares of Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Northern Oil and Gas presently has an average rating of “Hold” and a consensus target price of $30.62.

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.