Charles Schwab Investment Management Inc. Grows Stock Position in Northern Oil and Gas, Inc. $NOG

Charles Schwab Investment Management Inc. boosted its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 7.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,141,754 shares of the company’s stock after purchasing an additional 82,855 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Northern Oil and Gas were worth $34,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Signaturefd LLC increased its position in Northern Oil and Gas by 60.0% in the first quarter. Signaturefd LLC now owns 1,080 shares of the company’s stock worth $33,000 after buying an additional 405 shares during the last quarter. Van Den Berg Management I Inc. increased its position in Northern Oil and Gas by 1.2% in the fourth quarter. Van Den Berg Management I Inc. now owns 36,895 shares of the company’s stock worth $1,371,000 after buying an additional 446 shares during the last quarter. Byrne Asset Management LLC grew its position in shares of Northern Oil and Gas by 54.9% in the first quarter. Byrne Asset Management LLC now owns 1,363 shares of the company’s stock valued at $41,000 after purchasing an additional 483 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Northern Oil and Gas by 26.7% in the first quarter. Fifth Third Bancorp now owns 2,480 shares of the company’s stock valued at $75,000 after purchasing an additional 523 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Northern Oil and Gas by 127.7% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company’s stock valued at $45,000 after purchasing an additional 835 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Price Performance

NYSE:NOG opened at $23.79 on Tuesday. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 3.93 and a beta of 1.55. Northern Oil and Gas, Inc. has a 52-week low of $19.88 and a 52-week high of $44.31. The stock has a fifty day moving average of $28.36 and a 200 day moving average of $28.42. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.50. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%. The firm had revenue of $706.81 million during the quarter, compared to analyst estimates of $555.54 million. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s revenue was up 26.0% compared to the same quarter last year. On average, research analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.80 annualized dividend and a yield of 7.6%. Northern Oil and Gas’s payout ratio is 29.70%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NOG. Royal Bank Of Canada reduced their price target on Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Monday, July 14th. Bank of America lifted their price target on Northern Oil and Gas from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Piper Sandler reiterated a “neutral” rating and issued a $25.00 price target (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. Raymond James Financial reiterated a “strong-buy” rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Finally, Mizuho dropped their price objective on Northern Oil and Gas from $33.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas has a consensus rating of “Moderate Buy” and an average target price of $36.89.

Northern Oil and Gas Company Profile

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.