Royce & Associates LP Acquires 7,390 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Royce & Associates LP grew its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 341,849 shares of the company’s stock after purchasing an additional 7,390 shares during the period. Royce & Associates LP owned approximately 0.34% of Northern Oil and Gas worth $12,105,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NOG. Signaturefd LLC raised its holdings in Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after acquiring an additional 427 shares during the period. GAMMA Investing LLC grew its position in shares of Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after purchasing an additional 528 shares in the last quarter. Quarry LP raised its stake in shares of Northern Oil and Gas by 338.8% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after purchasing an additional 874 shares during the period. Covestor Ltd lifted its holdings in Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after purchasing an additional 1,048 shares in the last quarter. Finally, CWM LLC boosted its stake in Northern Oil and Gas by 24.8% in the 3rd quarter. CWM LLC now owns 2,237 shares of the company’s stock worth $79,000 after purchasing an additional 444 shares during the period. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, 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 sale, the chief financial officer now owns 83,792 shares of the company’s stock, valued at $3,351,680. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Adam A. Dirlam sold 2,508 shares of the 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 $4,153,226. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,508 shares of company stock worth $248,113. Corporate insiders own 2.80% of the company’s stock.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $40.50 on Friday. The stock has a 50-day moving average price of $37.51 and a 200 day moving average price of $38.51. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a 12-month low of $31.13 and a 12-month high of $43.80. The stock has a market capitalization of $4.04 billion, a P/E ratio of 4.86 and a beta of 1.80.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results 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 company had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. During the same period last year, the company posted $1.73 earnings per share. Northern Oil and Gas’s quarterly revenue was up 140.0% on a year-over-year basis. Equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NOG. StockNews.com cut Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Piper Sandler dropped their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Mizuho began coverage on Northern Oil and Gas in a research report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 target price on the stock. Jefferies Financial Group began coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 target price for the company. Finally, Truist Financial lifted 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Northern Oil and Gas presently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

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.