Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 29.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,985 shares of the company’s stock after selling 37,546 shares during the quarter. Edgestream Partners L.P. owned approximately 0.09% of Northern Oil and Gas worth $3,116,000 as of its most recent filing with the Securities and Exchange Commission.

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

Northern Oil and Gas Trading Up 0.1 %

Shares of NOG stock opened at $43.49 on Monday. The stock has a 50-day simple moving average of $38.98 and a 200 day simple moving average of $38.66. Northern Oil and Gas, Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $44.31. The stock has a market capitalization of $4.34 billion, a P/E ratio of 5.22 and a beta of 1.80. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG) last announced 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 return on equity of 27.52% and a net margin of 33.44%. The business had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. During the same quarter last year, the business posted $1.73 earnings per share. The company’s quarterly revenue was up 140.0% on a year-over-year basis. On average, sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 3.86%. Northern Oil and Gas’s dividend payout ratio is currently 20.17%.

Insider Activity at Northern Oil and Gas

In related news, insider Erik J. Romslo sold 1,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the transaction, the insider now owns 105,713 shares in the company, valued at $3,727,440.38. This trade represents a 1.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 value of $96,558.00. Following the completion of 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. Insiders sold 6,508 shares of company stock valued at $248,113 over the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Truist Financial boosted 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. Morgan Stanley decreased their target price on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Royal Bank of Canada cut Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $43.00 to $45.00 in a report on Wednesday, November 20th. Mizuho began coverage on Northern Oil and Gas in a report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price target for the company. Finally, Jefferies Financial Group began coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They set a “buy” rating and a $53.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.