Pitcairn Co. Has $394,000 Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Pitcairn Co. trimmed its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 18.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,115 shares of the company’s stock after selling 2,524 shares during the quarter. Pitcairn Co.’s holdings in Northern Oil and Gas were worth $394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOG. Signaturefd LLC raised its stake in shares of 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 raised its position in Northern Oil and Gas by 91.5% in the second 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 lifted its stake in Northern Oil and Gas by 338.8% during the second quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $42,000 after purchasing an additional 874 shares during the period. Covestor Ltd lifted its stake in Northern Oil and Gas by 122.6% during the third quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after purchasing an additional 1,048 shares during the period. Finally, CWM LLC boosted its holdings in Northern Oil and Gas by 24.8% during the third quarter. CWM LLC now owns 2,237 shares of the company’s stock valued at $79,000 after purchasing an additional 444 shares in the last quarter. 98.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NOG shares. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price for the company. Morgan Stanley cut their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Mizuho assumed coverage on shares of Northern Oil and Gas in a report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 target price on the stock. Royal Bank of Canada downgraded shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. Finally, StockNews.com cut shares of 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 assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Insider Buying and Selling

In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the president now directly owns 107,876 shares of the company’s stock, valued at $4,153,226. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,508 shares of company stock worth $248,113 over the last three months. 2.80% of the stock is currently owned by company insiders.

Northern Oil and Gas Price Performance

Shares of NOG stock opened at $43.13 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 5.18 and a beta of 1.80. The firm’s 50 day moving average is $38.59 and its 200-day moving average is $38.58. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $43.80.

Northern Oil and Gas (NYSE:NOG) last announced 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 firm had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The business’s quarterly revenue was up 140.0% compared to the same quarter last year. During the same period last year, the company earned $1.73 EPS. Sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.42 EPS for the current fiscal year.

Northern Oil and Gas Company 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.