Quantbot Technologies LP Sells 37,228 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Quantbot Technologies LP trimmed its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 45.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 45,112 shares of the company’s stock after selling 37,228 shares during the quarter. Quantbot Technologies LP’s holdings in Northern Oil and Gas were worth $1,597,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC increased its position 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 buying an additional 427 shares in the last quarter. GAMMA Investing LLC boosted its stake in Northern Oil and Gas by 91.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after purchasing an additional 528 shares in the last quarter. Quarry LP grew its position in Northern Oil and Gas by 338.8% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $42,000 after purchasing an additional 874 shares during the last quarter. Covestor Ltd increased its stake in Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock valued at $67,000 after purchasing an additional 1,048 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Northern Oil and Gas by 24.8% in the third quarter. CWM LLC now owns 2,237 shares of the company’s stock worth $79,000 after buying an additional 444 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Performance

Shares of NYSE:NOG opened at $43.49 on Friday. The business’s 50 day moving average price is $38.98 and its 200-day moving average price is $38.68. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $44.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $4.34 billion, a PE ratio of 5.22 and a beta of 1.80.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. Northern Oil and Gas’s quarterly revenue was up 140.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 EPS. As a group, equities research analysts expect that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be issued a dividend of $0.42 per share. The ex-dividend date is Monday, December 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.86%. Northern Oil and Gas’s dividend payout ratio is presently 20.17%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Truist Financial lifted their target price on Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Piper Sandler lifted their price objective 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. Mizuho initiated coverage on shares of 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 decreased their target price on shares of 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. Finally, Royal Bank of Canada lowered shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. One 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Insider Activity

In related news, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was 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 of the company’s stock, valued at approximately $4,153,226. This trade represents a 2.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Erik J. Romslo sold 1,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction 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 1.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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.