Eagle Asset Management Inc. Boosts Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Eagle Asset Management Inc. grew its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 24.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 134,122 shares of the company’s stock after buying an additional 26,649 shares during the period. Eagle Asset Management Inc.’s holdings in Northern Oil and Gas were worth $4,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NOG. Vanguard Group Inc. lifted its position in shares of Northern Oil and Gas by 0.4% during the first 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 raised its position in shares of Northern Oil and Gas by 2.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 76,259 shares of the company’s stock worth $3,025,000 after buying an additional 1,867 shares in the last quarter. BOKF NA raised its position in shares of Northern Oil and Gas by 108.0% in the first quarter. BOKF NA now owns 6,643 shares of the company’s stock worth $263,000 after buying an additional 3,449 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Northern Oil and Gas by 6.7% in the first 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 raised its position in shares of Northern Oil and Gas by 1.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock worth $29,747,000 after buying an additional 12,814 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Up 2.0 %

Shares of NYSE:NOG opened at $43.20 on Monday. The stock’s 50-day moving average price is $38.28 and its 200-day moving average price is $38.55. Northern Oil and Gas, Inc. has a 12-month low of $31.13 and a 12-month high of $43.80. The stock has a market capitalization of $4.31 billion, a P/E ratio of 5.19 and a beta of 1.80. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data 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. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The firm had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. During the same period last year, the firm earned $1.73 earnings per share. The company’s revenue for the quarter was up 140.0% compared to the same quarter last year. On average, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NOG. Royal Bank of Canada downgraded Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $43.00 to $45.00 in a research report on Wednesday, November 20th. Morgan Stanley lowered their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Truist Financial increased their target price 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. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price on the stock. Finally, StockNews.com cut Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas has an average rating of “Moderate Buy” and an average price target of $47.50.

Insider Activity

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 transaction of $96,558.00. Following the completion of the sale, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $60,000.00. Following the sale, the chief financial officer now 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. Over the last three months, insiders have sold 6,508 shares of company stock valued at $248,113. 2.80% of the stock is currently owned by insiders.

Northern Oil and Gas 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.