Garner Asset Management Corp Acquires New Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Garner Asset Management Corp bought a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 7,091 shares of the company’s stock, valued at approximately $251,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 789,985 shares during the period. American Century Companies Inc. grew its holdings in Northern Oil and Gas by 11.0% in the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after purchasing an additional 552,645 shares during the period. abrdn plc bought a new stake in Northern Oil and Gas in the third quarter valued at $17,096,000. New York State Common Retirement Fund raised its holdings in shares of Northern Oil and Gas by 41.4% during the third quarter. New York State Common Retirement Fund now owns 940,987 shares of the company’s stock valued at $33,320,000 after purchasing an additional 275,704 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Northern Oil and Gas by 58.6% during the 3rd quarter. Jennison Associates LLC now owns 521,115 shares of the company’s stock worth $18,453,000 after purchasing an additional 192,539 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Northern Oil and Gas news, CFO Chad W. Allen sold 1,500 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the transaction, the chief financial officer now directly owns 83,792 shares in the company, valued at $3,351,680. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction that occurred 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 directly owns 107,876 shares of the company’s stock, valued at $4,153,226. This represents a 2.27 % decrease in their ownership of the stock. 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. 2.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on NOG. Truist Financial boosted their target price 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. Piper Sandler upped their target price on Northern Oil and Gas from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. StockNews.com downgraded shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Morgan Stanley lowered their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Royal Bank of Canada lowered shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $43.00 to $45.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $43.20 on Friday. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $43.80. The company has a market cap of $4.31 billion, a P/E ratio of 5.19 and a beta of 1.80. The firm has a 50-day moving average of $38.28 and a 200-day moving average of $38.55. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data 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 company’s revenue for the quarter was up 140.0% on a year-over-year basis. During the same quarter last year, the business posted $1.73 EPS. Equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.42 EPS for the current fiscal year.

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.