Emerald Mutual Fund Advisers Trust Has $16.85 Million Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Emerald Mutual Fund Advisers Trust boosted its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 18.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 453,414 shares of the company’s stock after purchasing an additional 70,709 shares during the period. Emerald Mutual Fund Advisers Trust owned about 0.45% of Northern Oil and Gas worth $16,853,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Northern Oil and Gas by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock valued at $421,857,000 after acquiring an additional 43,940 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in Northern Oil and Gas by 13.8% during the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock valued at $69,430,000 after purchasing an additional 212,030 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Northern Oil and Gas by 5.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,432,704 shares of the company’s stock valued at $56,850,000 after purchasing an additional 77,537 shares in the last quarter. Principal Financial Group Inc. grew its stake in Northern Oil and Gas by 1.1% in the first quarter. Principal Financial Group Inc. now owns 1,422,435 shares of the company’s stock valued at $56,442,000 after purchasing an additional 16,081 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Northern Oil and Gas by 30.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock worth $51,001,000 after purchasing an additional 324,958 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Insider Transactions at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $37.88, for a total transaction of $52,728.96. Following the completion of the transaction, the president now directly owns 107,628 shares in the company, valued at approximately $4,076,948.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the sale, the chief executive officer now owns 224,332 shares in the company, valued at $8,526,859.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were 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 $4,076,948.64. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NOG. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. Bank of America boosted their target price on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Piper Sandler reduced their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, Truist Financial increased their target price on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Northern Oil and Gas Stock Down 3.7 %

NOG stock opened at $34.95 on Friday. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 5.66 and a beta of 1.81. The company has a 50-day moving average of $39.04 and a two-hundred day moving average of $39.12. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $43.80. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.26. The firm had revenue of $560.80 million during the quarter, compared to the consensus estimate of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.49 EPS. As a group, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.41 EPS for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.81%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 27th. Northern Oil and Gas’s dividend payout ratio is currently 27.23%.

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.