Wesbanco Bank Inc. Takes $1.08 Million Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Wesbanco Bank Inc. bought a new position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 30,500 shares of the company's stock, valued at approximately $1,080,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Northern Oil and Gas by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company's stock worth $392,480,000 after purchasing an additional 2,827,642 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Northern Oil and Gas by 45.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company's stock worth $93,744,000 after acquiring an additional 789,985 shares during the last quarter. American Century Companies Inc. lifted its stake 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 acquiring an additional 552,645 shares during the period. Capstone Investment Advisors LLC boosted its holdings in Northern Oil and Gas by 8,679.3% in the first quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company's stock valued at $20,355,000 after acquiring an additional 507,129 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its position in Northern Oil and Gas by 13.8% in the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company's stock worth $69,430,000 after purchasing an additional 212,030 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Up 0.9 %

Shares of Northern Oil and Gas stock traded up $0.32 during trading hours on Wednesday, hitting $37.92. The company's stock had a trading volume of 683,437 shares, compared to its average volume of 1,342,878. The company has a market capitalization of $3.83 billion, a PE ratio of 6.15 and a beta of 1.81. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a 50 day moving average of $37.63 and a 200 day moving average of $39.08. 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, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.26. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The business had revenue of $560.80 million during the quarter, compared to analysts' expectations of $542.28 million. During the same period in the prior year, the business earned $1.49 EPS. Northern Oil and Gas's revenue for the quarter was up 17.7% compared to the same quarter last year. Analysts predict that Northern Oil and Gas, Inc. will post 5.29 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a $0.42 dividend. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Friday, September 27th. Northern Oil and Gas's payout ratio is currently 27.23%.

Insider Buying and Selling

In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of Northern Oil and Gas stock in a transaction dated 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 owns 105,713 shares of the company's stock, valued at $3,727,440.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction on Thursday, October 3rd. The shares were 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 owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Erik J. Romslo sold 1,500 shares of Northern Oil and Gas stock in a transaction on Tuesday, October 1st. The shares were 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 owns 105,713 shares in the company, valued at $3,727,440.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,008 shares of company stock valued at $228,013. Company insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NOG. StockNews.com downgraded shares of Northern Oil and Gas from a "hold" rating to a "sell" rating in a research report on Thursday, August 1st. Royal Bank of Canada restated an "outperform" rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. 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 target price for the company. Truist Financial cut their price target on Northern Oil and Gas from $55.00 to $44.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Finally, Jefferies Financial Group assumed coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a "buy" rating and a $53.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Northern Oil and Gas presently has an average rating of "Moderate Buy" and an average price target of $46.80.

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.