King Luther Capital Management Corp Sells 46,400 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

King Luther Capital Management Corp reduced its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 28.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,832 shares of the company's stock after selling 46,400 shares during the quarter. King Luther Capital Management Corp owned about 0.12% of Northern Oil and Gas worth $4,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of NOG. Dimensional Fund Advisors LP increased its holdings in shares of 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 worth $93,744,000 after buying an additional 789,985 shares during the last quarter. American Century Companies Inc. increased its stake in Northern Oil and Gas by 11.0% in the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company's stock valued at $206,905,000 after acquiring an additional 552,645 shares during the last quarter. abrdn plc purchased a new stake in Northern Oil and Gas during the third quarter valued at about $17,096,000. New York State Common Retirement Fund lifted its stake in Northern Oil and Gas by 41.4% during the third quarter. New York State Common Retirement Fund now owns 940,987 shares of the company's stock worth $33,320,000 after purchasing an additional 275,704 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of 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 purchasing an additional 192,539 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Trading Up 2.0 %

NYSE:NOG traded up $0.86 during mid-day trading on Friday, reaching $43.20. 1,309,713 shares of the company's stock traded hands, compared to its average volume of 1,199,331. The company has a 50 day moving average price of $38.28 and a 200-day moving average price of $38.57. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 5.19 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, Inc. has a 12-month low of $31.13 and a 12-month high of $43.80.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $753.64 million for the quarter, compared to analysts' expectations of $540.23 million. During the same period in the previous year, the firm earned $1.73 earnings per share. The business's revenue was up 140.0% compared to the same quarter last year. On average, sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NOG shares. Mizuho started coverage on Northern Oil and Gas in a report on Thursday, September 19th. They set an "outperform" rating and a $47.00 price objective on the stock. Morgan Stanley lowered their price objective on shares of 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. StockNews.com lowered shares of Northern Oil and Gas from a "hold" rating to a "sell" rating in a report on Thursday, August 1st. Piper Sandler lifted their target price 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. Finally, Jefferies Financial Group started coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They set a "buy" rating and a $53.00 price target for the company. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

Insiders Place Their Bets

In other Northern Oil and Gas news, CFO Chad W. Allen sold 1,500 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now directly owns 83,792 shares of the company's stock, valued at approximately $3,351,680. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Adam A. Dirlam sold 2,508 shares of the company's stock in a transaction that occurred 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 in the company, valued at $4,153,226. This trade represents a 2.27 % decrease in their position. 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 corporate insiders.

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.