Northern Oil and Gas, Inc. (NYSE:NOG) Position Reduced by Isthmus Partners LLC

Isthmus Partners LLC lowered its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 20.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 47,943 shares of the company's stock after selling 12,504 shares during the period. Isthmus Partners LLC's holdings in Northern Oil and Gas were worth $1,698,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Northern Oil and Gas by 1.4% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company's stock valued at $849,000 after buying an additional 320 shares in the last quarter. Easterly Investment Partners LLC increased its holdings in shares of Northern Oil and Gas by 0.8% in the 3rd quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company's stock valued at $1,792,000 after acquiring an additional 380 shares during the last quarter. Signaturefd LLC raised its position in shares of 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 acquiring an additional 427 shares in the last quarter. CWM LLC lifted its stake in Northern Oil and Gas by 24.8% during the third quarter. CWM LLC now owns 2,237 shares of the company's stock worth $79,000 after purchasing an additional 444 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings 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 during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the company's stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now owns 107,876 shares of the company's stock, valued at approximately $4,153,226. This represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Erik J. Romslo sold 1,500 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the sale, the insider now directly owns 105,713 shares of the company's stock, valued at approximately $3,727,440.38. This represents a 1.40 % 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 valued at $248,113. 2.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NOG. Mizuho began coverage on shares of Northern Oil and Gas in a research report on Thursday, September 19th. They issued an "outperform" rating and a $47.00 price target on the stock. StockNews.com cut shares of Northern Oil and Gas from a "hold" rating to a "sell" rating in a report on Thursday, August 1st. Royal Bank of Canada lowered Northern Oil and Gas from an "outperform" rating to a "sector perform" rating and upped their target price for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They issued a "buy" rating and a $53.00 price target on the stock. Finally, Truist Financial upped their price objective on Northern Oil and Gas from $44.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $47.50.

Northern Oil and Gas Stock Performance

Shares of NOG traded up $0.03 during trading hours on Friday, reaching $43.49. 599,317 shares of the company's stock traded hands, compared to its average volume of 1,309,977. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $44.31. The business's fifty day simple moving average is $38.98 and its two-hundred day simple moving average is $38.68. 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 price-to-earnings ratio of 5.22 and a beta of 1.80.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.20. The firm had revenue of $753.64 million during the quarter, compared to analyst estimates 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 was up 140.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 EPS. Analysts predict that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 yield of 3.86%. Northern Oil and Gas's payout ratio is 20.17%.

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.