Northern Oil and Gas, Inc. (NYSE:NOG) Stake Trimmed by Pitcairn Co.

Pitcairn Co. lessened its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 18.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,115 shares of the company’s stock after selling 2,524 shares during the period. Pitcairn Co.’s holdings in Northern Oil and Gas were worth $394,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in shares of Northern Oil and Gas by 11.0% during the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after buying an additional 552,645 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Northern Oil and Gas by 45.6% during 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 grew its stake in Northern Oil and Gas by 0.6% during the 3rd quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock valued at $74,245,000 after acquiring an additional 12,079 shares in the last quarter. Bank of New York Mellon Corp increased its holdings 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 valued at $45,349,000 after purchasing an additional 49,632 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Northern Oil and Gas by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock worth $34,902,000 after purchasing an additional 103,314 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NOG. Mizuho initiated 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 price objective on the stock. Truist Financial upped 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. Royal Bank of Canada cut Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $43.00 to $45.00 in a research report on Wednesday, November 20th. Morgan Stanley dropped their target price on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, Piper Sandler lifted their price target on Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Northern Oil and Gas Stock Down 0.4 %

Shares of NOG stock opened at $43.13 on Wednesday. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 5.18 and a beta of 1.80. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The stock’s 50 day simple moving average is $38.59 and its 200 day simple moving average is $38.58. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $43.80.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. The business had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. Northern Oil and Gas’s revenue for the quarter was up 140.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.73 earnings per share. As a group, research analysts predict that Northern Oil and Gas, Inc. will post 5.42 EPS for the current year.

Insiders Place Their Bets

In related news, President Adam A. Dirlam sold 2,508 shares of the business’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 of the company’s stock, valued at approximately $4,153,226. The trade was a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Chad W. Allen sold 1,500 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the transaction, the chief financial officer now owns 83,792 shares of the company’s stock, valued at approximately $3,351,680. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,508 shares of company stock valued at $248,113 in the last quarter. Insiders own 2.80% of the company’s stock.

Northern Oil and Gas 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.