King Luther Capital Management Corp Sells 46,400 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

King Luther Capital Management Corp decreased its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 28.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 118,832 shares of the company’s stock after selling 46,400 shares during the period. King Luther Capital Management Corp owned 0.12% of Northern Oil and Gas worth $4,208,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Northern Oil and Gas by 1.4% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock worth $849,000 after buying an additional 320 shares during the last quarter. Easterly Investment Partners LLC grew its stake in shares of Northern Oil and Gas by 0.8% in the third quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock worth $1,792,000 after acquiring an additional 380 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after acquiring an additional 427 shares in the last quarter. CWM LLC increased its holdings in shares of Northern Oil and Gas by 24.8% during the third quarter. CWM LLC now owns 2,237 shares of the company’s stock valued at $79,000 after acquiring an additional 444 shares in the last quarter. Finally, GAMMA Investing LLC raised 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 purchasing an additional 528 shares during the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Up 2.1 %

Northern Oil and Gas stock opened at $43.21 on Friday. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $43.80. The stock has a fifty day moving average of $38.10 and a 200 day moving average of $38.55. 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 has a market cap of $4.31 billion, a PE ratio of 5.19 and a beta of 1.80.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.20 by $0.20. The firm 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 business’s revenue for the quarter was up 140.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 EPS. As a group, sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.42 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on NOG shares. Mizuho assumed coverage on shares of Northern Oil and Gas in a research note on Thursday, September 19th. They set an “outperform” rating and a $47.00 price objective for the company. Piper Sandler raised their price target on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Truist Financial upped their price objective on Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price for the company. Finally, Royal Bank of Canada downgraded Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $43.00 to $45.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction of $52,890.00. Following the completion of the sale, the insider now owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. The trade was a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was 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 directly owns 107,876 shares in the company, 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 ninety days, insiders sold 6,508 shares of company stock valued at $248,113. 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.