Heritage Wealth Management Inc. Purchases 2,800 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Heritage Wealth Management Inc. boosted its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 11.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,460 shares of the company’s stock after acquiring an additional 2,800 shares during the period. Heritage Wealth Management Inc.’s holdings in Northern Oil and Gas were worth $972,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of NOG. Signaturefd LLC boosted its position in shares of Northern Oil and Gas by 100.5% in the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after purchasing an additional 427 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of 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 acquiring an additional 528 shares during the last quarter. Quarry LP grew its stake in shares of Northern Oil and Gas by 338.8% during the second quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $42,000 after acquiring an additional 874 shares during 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, Fifth Third Bancorp grew its position in Northern Oil and Gas by 88.2% during the 2nd quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock worth $82,000 after purchasing an additional 1,033 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG traded down $0.09 during trading on Friday, reaching $40.45. 42,794 shares of the company’s stock traded hands, compared to its average volume of 1,327,115. The firm has a market cap of $4.05 billion, a PE ratio of 4.86 and a beta of 1.80. Northern Oil and Gas, Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $43.80. The company has a 50-day simple moving average of $37.13 and a 200-day simple moving average of $38.61. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.91.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The firm had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The firm’s revenue for the quarter was up 140.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 EPS. As a group, analysts predict that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NOG shares. Piper Sandler decreased their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Morgan Stanley lowered their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Mizuho initiated coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $47.50.

Insider Activity

In related news, insider Erik J. Romslo sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the transaction, the insider now directly owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the sale, the president now directly owns 107,876 shares in the company, valued at $4,153,226. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Erik J. Romslo sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $52,890.00. Following the sale, the insider now directly owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,008 shares of company stock worth $228,013 over the last 90 days. 2.80% of the stock is currently owned by company insiders.

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.