Ibex Wealth Advisors Purchases New Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Ibex Wealth Advisors acquired a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOGFree Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,517 shares of the company’s stock, valued at approximately $383,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. New York State Teachers Retirement System raised its stake in Northern Oil and Gas by 24.7% during the second quarter. New York State Teachers Retirement System now owns 33,886 shares of the company’s stock valued at $1,163,000 after buying an additional 6,713 shares in the last quarter. Jump Financial LLC bought a new position in Northern Oil and Gas during the third quarter worth $4,462,000. Private Advisor Group LLC acquired a new position in Northern Oil and Gas in the second quarter worth $200,000. Harbour Capital Advisors LLC bought a new stake in Northern Oil and Gas during the third quarter valued at $329,000. Finally, Jefferies Financial Group Inc. raised its holdings in shares of Northern Oil and Gas by 676.9% during the second quarter. Jefferies Financial Group Inc. now owns 63,000 shares of the company’s stock worth $2,162,000 after purchasing an additional 54,891 shares during the period. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Trading Up 1.2 %

Northern Oil and Gas stock opened at $35.08 on Wednesday. Northern Oil and Gas, Inc. has a 12-month low of $25.56 and a 12-month high of $43.64. The stock has a market capitalization of $3.53 billion, a PE ratio of 4.51 and a beta of 1.84. The firm has a 50 day simple moving average of $36.30 and a 200-day simple moving average of $38.37. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.78 and a quick ratio of 0.78.

Northern Oil and Gas (NYSE:NOGGet Free Report) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.03). Northern Oil and Gas had a net margin of 38.96% and a return on equity of 49.08%. The firm had revenue of $313.97 million for the quarter, compared to the consensus estimate of $503.98 million. During the same period in the previous year, the business posted $1.80 earnings per share. As a group, equities research analysts expect that Northern Oil and Gas, Inc. will post 6.72 EPS for the current fiscal year.

Insider Activity

In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $37.62, for a total value of $52,367.04. Following the completion of the sale, the president now directly owns 58,180 shares of the company’s stock, valued at approximately $2,188,731.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $37.62, for a total value of $52,367.04. Following the transaction, the president now owns 58,180 shares in the company, valued at $2,188,731.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $35.63, for a total value of $133,612.50. Following the sale, the chief executive officer now owns 220,825 shares of the company’s stock, valued at approximately $7,867,994.75. The disclosure for this sale can be found here. Insiders sold a total of 5,772 shares of company stock worth $209,680 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NOG has been the subject of a number of recent research reports. Truist Financial reaffirmed a “buy” rating and set a $55.00 price objective on shares of Northern Oil and Gas in a research report on Monday, December 4th. Bank of America lowered Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 target price on the stock. in a research report on Friday, January 5th. StockNews.com cut Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Raymond James lowered their price target on shares of Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, Morgan Stanley initiated coverage on shares of Northern Oil and Gas in a research report on Friday, January 5th. They issued an “equal weight” rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Get Our Latest Report on NOG

Northern Oil and Gas Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Northern Oil and Gas (NYSE:NOG)

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