Royce & Associates LP Boosts Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Royce & Associates LP grew its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 341,849 shares of the company’s stock after acquiring an additional 7,390 shares during the quarter. Royce & Associates LP’s holdings in Northern Oil and Gas were worth $12,105,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NOG. Signaturefd LLC grew its holdings in Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Northern Oil and Gas by 91.5% during the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after buying an additional 528 shares during the period. Quarry LP boosted its holdings in shares of Northern Oil and Gas by 338.8% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after buying an additional 874 shares in the last quarter. Covestor Ltd grew its position in shares of Northern Oil and Gas by 122.6% in the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after buying an additional 1,048 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Northern Oil and Gas by 24.8% during the 3rd quarter. CWM LLC now owns 2,237 shares of the company’s stock worth $79,000 after acquiring an additional 444 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Down 1.0 %

NOG stock opened at $40.50 on Friday. The company has a market capitalization of $4.04 billion, a P/E ratio of 4.86 and a beta of 1.80. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $43.80. The firm’s fifty day simple moving average is $37.51 and its 200-day simple moving average is $38.51. 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 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 company had revenue of $753.64 million for 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 firm’s revenue was up 140.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 earnings per share. As a group, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.38 earnings per share for the current year.

Analysts Set New Price Targets

NOG has been the topic of several analyst reports. Morgan Stanley cut their price target 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. Piper Sandler reduced their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Truist Financial increased their price target on Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Mizuho assumed coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They set an “outperform” rating and a $47.00 price target on the stock. Finally, Jefferies Financial Group began coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.50.

Insider Activity at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas 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 owns 107,876 shares in the company, valued at $4,153,226. The trade was a 2.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erik J. Romslo sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the transaction, the insider now directly owns 105,713 shares of the company’s stock, valued at $3,727,440.38. The trade was a 1.40 % 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 worth $248,113. 2.80% of the stock is owned by corporate insiders.

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.