Northern Oil and Gas, Inc. (NYSE:NOG) Shares Bought by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 37.8% in the third quarter, HoldingsChannel reports. The fund owned 9,256 shares of the company’s stock after purchasing an additional 2,541 shares during the quarter. Glenmede Trust Co. NA’s holdings in Northern Oil and Gas were worth $328,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. American Century Companies Inc. lifted its stake in shares of Northern Oil and Gas by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after acquiring an additional 552,645 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Northern Oil and Gas by 45.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after acquiring an additional 789,985 shares during the period. Copeland Capital Management LLC lifted its stake in shares of Northern Oil and Gas by 0.6% in the 3rd quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock worth $74,245,000 after acquiring an additional 12,079 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Northern Oil and Gas by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,220,044 shares of the company’s stock worth $45,349,000 after acquiring an additional 49,632 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Northern Oil and Gas by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock worth $34,902,000 after acquiring an additional 103,314 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOG has been the subject of several recent research reports. Mizuho initiated coverage on shares of Northern Oil and Gas in a research note on Thursday, September 19th. They set an “outperform” rating and a $47.00 target price for the company. Morgan Stanley cut their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Truist Financial increased their target price on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada lowered shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $43.00 to $45.00 in a research note on Wednesday, November 20th. Finally, Piper Sandler increased their target price on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Northern Oil and Gas Stock Down 4.0 %

NOG stock opened at $41.73 on Thursday. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $44.31. The company’s 50 day simple moving average is $39.34 and its 200-day simple moving average is $38.73. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $4.17 billion, a P/E ratio of 5.01 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The firm had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. During the same quarter in the prior year, the business earned $1.73 EPS. The company’s revenue for the quarter was up 140.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.4 EPS for the current year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a $0.42 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.03%. Northern Oil and Gas’s payout ratio is 20.17%.

Insiders Place Their Bets

In other Northern Oil and Gas news, CFO Chad W. Allen sold 1,500 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the completion of the sale, the chief financial officer now owns 83,792 shares in the company, valued at $3,351,680. This represents a 1.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total transaction of $96,558.00. Following the transaction, the president now owns 107,876 shares in the company, valued at $4,153,226. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,508 shares of company stock worth $248,113 in the last quarter. 2.80% of the stock is currently owned by corporate 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.