Pathstone Holdings LLC Acquires 5,524 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Pathstone Holdings LLC grew its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 16.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,381 shares of the company’s stock after purchasing an additional 5,524 shares during the period. Pathstone Holdings LLC’s holdings in Northern Oil and Gas were worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. 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 valued at $30,000 after buying an additional 427 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Northern Oil and Gas by 91.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after purchasing an additional 528 shares in the last quarter. Quarry LP grew its holdings in shares of Northern Oil and Gas by 338.8% in 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 position in shares of Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after purchasing an additional 1,048 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Northern Oil and Gas by 88.2% during the 2nd quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock valued at $82,000 after purchasing an additional 1,033 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Up 0.8 %

Shares of NYSE:NOG opened at $43.46 on Friday. The company has a 50 day moving average of $38.86 and a 200-day moving average of $38.65. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $44.31. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 5.22 and a beta of 1.80. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Tuesday, November 5th. The company reported $1.40 EPS 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 analysts’ expectations of $540.23 million. During the same quarter in the previous year, the company posted $1.73 EPS. The business’s revenue for the quarter was up 140.0% compared to the same quarter last year. On average, sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.42 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 20.17%.

Insider Transactions at Northern Oil and Gas

In related news, CFO Chad W. Allen sold 1,500 shares of the company’s stock in a transaction on Monday, October 7th. The shares were 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 owns 83,792 shares in the company, valued at $3,351,680. This represents a 1.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Adam A. Dirlam sold 2,508 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 6,508 shares of company stock worth $248,113. 2.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of Northern Oil and Gas in a report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price objective for the company. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target for the company. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Royal Bank of Canada lowered 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 research note on Wednesday, November 20th. Finally, Piper Sandler upped their price target on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

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.