Farther Finance Advisors LLC Reduces Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Farther Finance Advisors LLC decreased its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,742 shares of the company’s stock after selling 301 shares during the quarter. Farther Finance Advisors LLC’s holdings in Northern Oil and Gas were worth $132,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NOG. Dimensional Fund Advisors LP boosted its position in shares of Northern Oil and Gas by 45.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after buying an additional 789,985 shares during the period. American Century Companies Inc. grew its holdings in 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 buying an additional 552,645 shares in the last quarter. abrdn plc bought a new position in Northern Oil and Gas during the 3rd quarter valued at $17,096,000. New York State Common Retirement Fund boosted its stake in shares of Northern Oil and Gas by 41.4% during the 3rd quarter. New York State Common Retirement Fund now owns 940,987 shares of the company’s stock worth $33,320,000 after acquiring an additional 275,704 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Northern Oil and Gas by 13.8% in the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock valued at $69,430,000 after purchasing an additional 212,030 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Insider Activity at Northern Oil and Gas

In other 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 sale, the president now directly owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction that occurred 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Erik J. Romslo sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 in the company, valued at approximately $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 ninety days, insiders have sold 6,508 shares of company stock valued at $248,113. 2.80% of the stock is owned by corporate insiders.

Northern Oil and Gas Price Performance

NOG opened at $41.10 on Tuesday. The company has a fifty day moving average price of $37.15 and a two-hundred day moving average price of $38.53. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.23. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $43.80. The firm has a market capitalization of $4.10 billion, a PE ratio of 4.91 and a beta of 1.80.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.20. The company had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The firm’s revenue was up 140.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 EPS. As a group, analysts anticipate that Northern Oil and Gas, Inc. will post 5.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Piper Sandler lowered their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Truist Financial raised their price target on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Mizuho assumed coverage on shares of Northern Oil and Gas in a research note on Thursday, September 19th. They issued an “outperform” rating and a $47.00 target price for the company. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price for the company. Finally, StockNews.com cut shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

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.