Harbor Capital Advisors Inc. Raises Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Harbor Capital Advisors Inc. boosted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 290.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,213 shares of the company’s stock after purchasing an additional 62,649 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.08% of Northern Oil and Gas worth $3,130,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Insight Wealth Strategies LLC raised its holdings in shares of Northern Oil and Gas by 2.7% during the second quarter. Insight Wealth Strategies LLC now owns 27,197 shares of the company’s stock valued at $1,011,000 after acquiring an additional 717 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after purchasing an additional 528 shares during the last quarter. Boston Partners acquired a new stake in shares of Northern Oil and Gas in the first quarter valued at approximately $885,000. Verity Asset Management Inc. acquired a new stake in shares of Northern Oil and Gas in the first quarter valued at approximately $423,000. Finally, Garner Asset Management Corp acquired a new stake in shares of Northern Oil and Gas in the first quarter valued at approximately $281,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Insider Activity at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total value of $56,877.12. Following the completion of the transaction, the president now directly owns 109,020 shares in the company, valued at $4,454,557.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total value of $56,877.12. Following the completion of the transaction, the president now directly owns 109,020 shares in the company, valued at $4,454,557.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas 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 of the company’s stock, valued at $8,526,859.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,534 shares of company stock worth $252,144. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Trading Up 1.6 %

Shares of NOG traded up $0.59 during midday trading on Wednesday, hitting $37.01. 732,464 shares of the stock were exchanged, compared to its average volume of 1,353,696. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $43.80. The stock has a fifty day simple moving average of $38.84 and a 200 day simple moving average of $38.34. The firm has a market cap of $3.74 billion, a P/E ratio of 5.90 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.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, topping the consensus estimate 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 business had revenue of $560.80 million during the quarter, compared to analyst estimates of $542.28 million. During the same period last year, the business posted $1.49 earnings per share. The company’s quarterly revenue was up 17.7% on a year-over-year basis. On average, research analysts anticipate that Northern Oil and Gas, Inc. will post 5.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on NOG. Piper Sandler increased their price target on Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Morgan Stanley increased their price target on Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Truist Financial increased their price target on Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Bank of America increased 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. Finally, Royal Bank of Canada reiterated 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and an average target price of $48.90.

About Northern Oil and Gas

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.