Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP reduced its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 24.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,423,534 shares of the company’s stock after selling 454,965 shares during the period. Westfield Capital Management Co. LP owned approximately 1.43% of Northern Oil and Gas worth $50,407,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Northern Oil and Gas by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after acquiring an additional 43,940 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Northern Oil and Gas by 2.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 76,259 shares of the company’s stock valued at $3,025,000 after purchasing an additional 1,867 shares in the last quarter. BOKF NA grew its holdings in Northern Oil and Gas by 108.0% during the 1st quarter. BOKF NA now owns 6,643 shares of the company’s stock valued at $263,000 after purchasing an additional 3,449 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Northern Oil and Gas by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,720 shares of the company’s stock worth $2,053,000 after buying an additional 3,251 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in Northern Oil and Gas by 1.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock valued at $29,747,000 after buying an additional 12,814 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on NOG shares. Royal Bank of Canada downgraded shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $43.00 to $45.00 in a research report on Wednesday, November 20th. Truist Financial lifted their price objective on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com downgraded shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Jefferies Financial Group started coverage on shares of 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. Finally, Piper Sandler raised their price target on Northern Oil and Gas from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Northern Oil and Gas Trading Up 2.0 %

Shares of Northern Oil and Gas stock opened at $43.20 on Monday. The business has a fifty day simple moving average of $38.28 and a 200-day simple moving average of $38.54. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 5.19 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 quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. During the same quarter last year, the firm posted $1.73 EPS. The business’s revenue for the quarter was up 140.0% on a year-over-year basis. On average, equities analysts forecast that Northern Oil and Gas, Inc. will post 5.42 EPS for the current fiscal year.

Insider Transactions at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the transaction, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. The trade was a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Chad W. Allen sold 1,500 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $40.00, for a total value of $60,000.00. Following the completion of the sale, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at approximately $3,351,680. This represents a 1.76 % 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 in the last three months. 2.80% of the stock is currently owned by corporate 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.