Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 7.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,550 shares of the company’s stock after selling 500 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Northern Oil and Gas were worth $243,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Northern Oil and Gas by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after buying an additional 2,827,642 shares during the period. Capstone Investment Advisors LLC increased its holdings in Northern Oil and Gas by 8,679.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock worth $20,355,000 after buying an additional 507,129 shares during the period. Dimensional Fund Advisors LP increased its holdings in Northern Oil and Gas by 30.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock worth $51,001,000 after buying an additional 324,958 shares during the period. Westfield Capital Management Co. LP increased its holdings in Northern Oil and Gas by 13.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock worth $69,430,000 after buying an additional 212,030 shares during the period. Finally, Jennison Associates LLC acquired a new position in Northern Oil and Gas in the 1st quarter worth approximately $7,780,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG traded down $0.22 during midday trading on Tuesday, reaching $36.42. 1,679,436 shares of the company’s stock traded hands, compared to its average volume of 1,357,838. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $43.80. The company has a market cap of $3.68 billion, a P/E ratio of 6.00 and a beta of 1.79. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.96 and a current ratio of 0.89. The company has a fifty day simple moving average of $38.92 and a two-hundred day simple moving average of $38.32.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The firm had revenue of $560.80 million for the quarter, compared to analyst estimates of $542.28 million. During the same quarter last year, the firm posted $1.49 EPS. The business’s revenue was up 17.7% on a year-over-year basis. Equities analysts predict that Northern Oil and Gas, Inc. will post 5.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOG has been the topic of several research reports. Piper Sandler increased their price target on shares of Northern Oil and Gas from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. Truist Financial upped their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. Stifel Nicolaus upped their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, Bank of America upped their price objective on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.90.

Insider Activity

In other news, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $37.88, for a total transaction of $52,728.96. Following the transaction, the president now owns 107,628 shares in the company, valued at approximately $4,076,948.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.88, for a total value of $52,728.96. Following the transaction, the president now owns 107,628 shares in the company, valued at approximately $4,076,948.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the transaction, the chief executive officer now owns 224,332 shares in the company, valued at approximately $8,526,859.32. The disclosure for this sale can be found here. Insiders have sold 6,534 shares of company stock worth $252,144 in the last quarter. Corporate insiders own 2.80% of the company’s stock.

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.