Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 2.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 29,161 shares of the company’s stock after selling 600 shares during the period. PNC Financial Services Group Inc.’s holdings in Northern Oil and Gas were worth $1,081,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Westfield Capital Management Co. LP grew its stake in Northern Oil and Gas by 9.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,537,719 shares of the company’s stock worth $57,003,000 after buying an additional 131,448 shares during the last quarter. Ninepoint Partners LP grew its stake in shares of Northern Oil and Gas by 12.5% during the fourth quarter. Ninepoint Partners LP now owns 450,000 shares of the company’s stock worth $16,682,000 after acquiring an additional 50,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Northern Oil and Gas by 34.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,963 shares of the company’s stock valued at $555,000 after acquiring an additional 3,848 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Northern Oil and Gas by 11.6% in the 3rd quarter. Wellington Management Group LLP now owns 417,265 shares of the company’s stock valued at $16,787,000 after purchasing an additional 43,527 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Northern Oil and Gas by 38.6% in the 3rd quarter. Sei Investments Co. now owns 419,762 shares of the company’s stock worth $16,888,000 after purchasing an additional 116,983 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $36.76 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.96. The firm’s 50 day simple moving average is $39.98 and its 200-day simple moving average is $37.70. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $43.75. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 5.96 and a beta of 1.76.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The company had revenue of $396.35 million during the quarter, compared to analysts’ expectations of $505.67 million. During the same quarter in the previous year, the company earned $1.76 earnings per share. The firm’s revenue for the quarter was down 31.9% on a year-over-year basis. Analysts expect that Northern Oil and Gas, Inc. will post 5.04 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Thursday, June 27th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a yield of 4.35%. Northern Oil and Gas’s dividend payout ratio is currently 25.93%.

Insider Buying and Selling at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total transaction of $56,877.12. Following the completion of the transaction, the president now directly owns 109,020 shares of the company’s stock, valued at approximately $4,454,557.20. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $40.98, for a total value of $153,675.00. Following the sale, the chief executive officer now directly owns 228,082 shares in the company, valued at approximately $9,346,800.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $40.86, for a total value of $56,877.12. Following the transaction, the president now directly owns 109,020 shares of the company’s stock, valued at approximately $4,454,557.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,292 shares of company stock valued at $342,852. Company insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on NOG shares. Morgan Stanley upped their price target on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Stifel Nicolaus raised their target price on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Piper Sandler boosted their price target on Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Citigroup reduced their price objective on Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Finally, Truist Financial upped their target price on Northern Oil and Gas from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.90.

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.