Investors Buy Large Volume of Northern Oil and Gas Call Options (NYSE:NOG)

Northern Oil and Gas, Inc. (NYSE:NOG) was the recipient of unusually large options trading activity on Friday. Investors bought 2,483 call options on the stock. This represents an increase of 99% compared to the average volume of 1,246 call options.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG traded up $0.89 during midday trading on Friday, reaching $25.53. 381,471 shares of the company were exchanged, compared to its average volume of 1,884,149. The stock has a market cap of $2.49 billion, a P/E ratio of 14.38 and a beta of 1.05. Northern Oil and Gas has a 1 year low of $19.88 and a 1 year high of $42.35. The stock has a fifty day simple moving average of $22.60 and a 200 day simple moving average of $25.73. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.05.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Monday, March 6th. The company reported $1.06 earnings per share for the quarter. Northern Oil and Gas had a return on equity of 20.61% and a net margin of 7.61%.The company had revenue of $319.19 million during the quarter. On average, research analysts forecast that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, December 30th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Tuesday, December 30th. Northern Oil and Gas’s payout ratio is currently 101.69%.

Hedge Funds Weigh In On Northern Oil and Gas

A number of large investors have recently bought and sold shares of NOG. American Century Companies Inc. lifted its position in Northern Oil and Gas by 6.4% in the first quarter. American Century Companies Inc. now owns 6,953,377 shares of the company’s stock valued at $210,201,000 after purchasing an additional 415,781 shares during the period. Charles Schwab Investment Management Inc. increased its position in Northern Oil and Gas by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,141,754 shares of the company’s stock worth $34,515,000 after purchasing an additional 82,855 shares during the period. Motley Fool Asset Management LLC increased its position in Northern Oil and Gas by 21.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 85,483 shares of the company’s stock worth $2,584,000 after purchasing an additional 14,945 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Northern Oil and Gas by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 314,890 shares of the company’s stock worth $9,519,000 after buying an additional 67,491 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Northern Oil and Gas by 45.7% in the 1st quarter. MetLife Investment Management LLC now owns 87,154 shares of the company’s stock valued at $2,635,000 after buying an additional 27,336 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $26.00 price objective (down previously from $27.00) on shares of Northern Oil and Gas in a report on Tuesday, October 14th. Citigroup decreased their target price on Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Wednesday, October 8th. William Blair began coverage on Northern Oil and Gas in a research note on Monday, August 25th. They issued an “outperform” rating for the company. Finally, Mizuho decreased their price objective on Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.00.

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.