Northern Oil and Gas, Inc. (NYSE:NOG) Position Decreased by Requisite Capital Management LLC

Requisite Capital Management LLC trimmed its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 36.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 614,943 shares of the company's stock after selling 350,000 shares during the period. Northern Oil and Gas makes up about 4.6% of Requisite Capital Management LLC's portfolio, making the stock its 6th biggest position. Requisite Capital Management LLC owned about 0.61% of Northern Oil and Gas worth $22,033,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Northern Oil and Gas by 91.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company's stock valued at $41,000 after purchasing an additional 528 shares in the last quarter. Quarry LP increased its holdings in shares of Northern Oil and Gas by 338.8% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company's stock valued at $42,000 after purchasing an additional 874 shares in the last quarter. CWM LLC increased its holdings in shares of Northern Oil and Gas by 24.8% during the 3rd quarter. CWM LLC now owns 2,237 shares of the company's stock valued at $79,000 after purchasing an additional 444 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Northern Oil and Gas by 88.2% during the 2nd quarter. Fifth Third Bancorp now owns 2,204 shares of the company's stock valued at $82,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Marks Group Wealth Management Inc purchased a new position in shares of Northern Oil and Gas during the 1st quarter valued at approximately $215,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Price Performance

NOG traded up $0.64 on Friday, hitting $39.88. 1,380,222 shares of the company's stock were exchanged, compared to its average volume of 1,348,331. Northern Oil and Gas, Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $43.80. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average price of $37.52 and a 200-day moving average price of $39.10. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 7.06 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The company had revenue of $560.80 million for the quarter, compared to analysts' expectations of $542.28 million. During the same quarter in the previous year, the company posted $1.49 EPS. The firm's quarterly revenue was up 17.7% on a year-over-year basis. As a group, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.29 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.42 per share. 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. This represents a $1.68 annualized dividend and a dividend yield of 4.21%. Northern Oil and Gas's payout ratio is presently 29.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $46.00 target price on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. StockNews.com lowered shares of Northern Oil and Gas from a "hold" rating to a "sell" rating in a report on Thursday, August 1st. Mizuho initiated coverage on shares of Northern Oil and Gas in a report on Thursday, September 19th. They issued an "outperform" rating and a $47.00 price target for the company. Truist Financial cut their price target on shares of Northern Oil and Gas from $55.00 to $44.00 and set a "buy" rating for the company in a report on Monday, September 30th. Finally, Bank of America boosted their price target on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the stock a "buy" rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $46.80.

Insider Activity

In other news, insider Erik J. Romslo sold 1,500 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $52,890.00. Following the transaction, the insider now owns 105,713 shares of the company's stock, valued at approximately $3,727,440.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the company's stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now owns 107,876 shares of the company's stock, valued at $4,153,226. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Erik J. Romslo sold 1,500 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $52,890.00. Following the completion of the transaction, the insider now directly owns 105,713 shares in the company, valued at $3,727,440.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,008 shares of company stock valued at $228,013. 2.80% of the stock is currently owned by insiders.

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.