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

Eagle Asset Management Inc. grew its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 24.8% in the 3rd quarter, according to its most recent disclosure with the SEC. 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. owned approximately 0.13% of Northern Oil and Gas worth $4,749,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NOG. Dimensional Fund Advisors LP lifted its position in Northern Oil and Gas by 45.6% in the 2nd 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 in the last quarter. American Century Companies Inc. lifted its holdings in shares of Northern Oil and Gas by 11.0% during the second 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 in the last quarter. abrdn plc purchased a new stake in shares of Northern Oil and Gas during the third quarter valued at $17,096,000. New York State Common Retirement Fund increased its holdings in Northern Oil and Gas by 41.4% in the 3rd quarter. New York State Common Retirement Fund now owns 940,987 shares of the company's stock worth $33,320,000 after buying an additional 275,704 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Northern Oil and Gas by 58.6% in the 3rd quarter. Jennison Associates LLC now owns 521,115 shares of the company's stock worth $18,453,000 after buying an additional 192,539 shares during the last quarter. Institutional investors own 98.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NOG shares. Truist Financial raised their price target on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Jefferies Financial Group began 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 target price for the company. Piper Sandler increased their price target on Northern Oil and Gas from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, November 18th. StockNews.com lowered Northern Oil and Gas from a "hold" rating to a "sell" rating in a report on Thursday, August 1st. Finally, Morgan Stanley cut their price target on Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating for the company in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Northern Oil and Gas has a consensus rating of "Moderate Buy" and an average target price of $47.50.

Northern Oil and Gas Price Performance

NOG stock traded up $0.11 during midday trading on Monday, hitting $43.31. The company's stock had a trading volume of 1,615,791 shares, compared to its average volume of 1,315,986. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 5.19 and a beta of 1.80. The company has a 50 day moving average of $38.28 and a two-hundred day moving average of $38.54. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $43.80. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $753.64 million for the quarter, compared to analysts' expectations of $540.23 million. During the same period in the prior year, the firm earned $1.73 EPS. The company's revenue for the quarter was up 140.0% on a year-over-year basis. On average, analysts expect that Northern Oil and Gas, Inc. will post 5.42 EPS for the current year.

Insider Buying and Selling at Northern Oil and Gas

In related news, insider Erik J. Romslo sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction of $52,890.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the president now directly owns 107,876 shares in the company, valued at $4,153,226. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,508 shares of company stock worth $248,113 over the last ninety days. Company insiders own 2.80% of the company's stock.

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.