Victory Capital Management Inc. Reduces Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Victory Capital Management Inc. decreased its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 840,908 shares of the company’s stock after selling 25,436 shares during the quarter. Victory Capital Management Inc.’s holdings in Northern Oil and Gas were worth $29,777,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of 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 valued at $421,857,000 after acquiring an additional 43,940 shares during the period. American Century Companies Inc. increased its position in shares of Northern Oil and Gas by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after purchasing an additional 552,645 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Northern Oil and Gas by 45.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock valued at $93,744,000 after acquiring an additional 789,985 shares during the last quarter. Copeland Capital Management LLC grew its holdings in Northern Oil and Gas by 0.6% during the 3rd quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock valued at $74,245,000 after purchasing an additional 12,079 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Northern Oil and Gas by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,220,044 shares of the company’s stock worth $45,349,000 after purchasing an additional 49,632 shares during the period. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Trading Down 1.0 %

NYSE:NOG opened at $40.50 on Friday. The firm has a 50-day simple moving average of $37.51 and a 200-day simple moving average of $38.51. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $43.80. The firm has a market cap of $4.04 billion, a P/E ratio of 4.86 and a beta of 1.80. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping 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 revenue for the quarter was up 140.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now directly owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. The trade was a 2.27 % 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 the SEC website. Also, insider Erik J. Romslo sold 1,500 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the sale, the insider now owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. This represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,508 shares of company stock worth $248,113 in the last three months. 2.80% of the stock is owned by insiders.

Analysts Set New Price Targets

NOG has been the subject of several recent analyst reports. Truist Financial boosted their target price on Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Morgan Stanley decreased 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. Mizuho began coverage on shares of Northern Oil and Gas in a report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

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.