King Luther Capital Management Corp Lowers Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

King Luther Capital Management Corp lowered its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 28.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 118,832 shares of the company’s stock after selling 46,400 shares during the period. King Luther Capital Management Corp’s holdings in Northern Oil and Gas were worth $4,208,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in 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 during the period. GAMMA Investing LLC boosted its position 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 Northern Oil and Gas by 338.8% during the second quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after acquiring an additional 874 shares in the last quarter. Covestor Ltd increased its holdings in Northern Oil and Gas by 122.6% in the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock valued at $67,000 after acquiring an additional 1,048 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in Northern Oil and Gas by 88.2% in 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 in the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Up 2.1 %

NYSE NOG opened at $43.21 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $43.80. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 5.19 and a beta of 1.80. The company has a fifty day moving average of $38.10 and a two-hundred day moving average of $38.55.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping 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 business’s revenue was up 140.0% on a year-over-year basis. During the same quarter last year, the business earned $1.73 EPS. On average, analysts predict that Northern Oil and Gas, Inc. will post 5.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Erik J. Romslo sold 1,500 shares of Northern Oil and Gas stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction of $52,890.00. Following the completion of the sale, the insider now directly owns 105,713 shares in the company, valued at approximately $3,727,440.38. This trade represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Adam A. Dirlam sold 2,508 shares of the business’s stock in a transaction 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 sale, 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. Insiders sold a total of 6,508 shares of company stock valued at $248,113 over the last 90 days. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NOG. Jefferies Financial Group began coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective for the company. Mizuho began 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 on the stock. Morgan Stanley lowered their target price 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. Royal Bank of Canada lowered shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $43.00 to $45.00 in a report on Wednesday. Finally, Piper Sandler upped their price target on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

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.