Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,359,531 shares of the company's stock after selling 38,524 shares during the period. Allspring Global Investments Holdings LLC owned about 1.35% of Northern Oil and Gas worth $48,141,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings 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 worth $849,000 after buying an additional 320 shares in the last quarter. CWM LLC boosted its stake in shares of Northern Oil and Gas by 24.8% during the 3rd quarter. CWM LLC now owns 2,237 shares of the company's stock worth $79,000 after acquiring an additional 444 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Northern Oil and Gas by 91.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company's stock worth $41,000 after acquiring an additional 528 shares in the last quarter. Arizona State Retirement System grew its position in shares of Northern Oil and Gas by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 25,415 shares of the company's stock valued at $945,000 after acquiring an additional 555 shares during the period. Finally, Insight Wealth Strategies LLC increased its stake in shares of Northern Oil and Gas by 2.2% in the 3rd quarter. Insight Wealth Strategies LLC now owns 27,799 shares of the company's stock valued at $984,000 after purchasing an additional 602 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on NOG shares. 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 objective on the stock. Truist Financial cut their price target on shares of Northern Oil and Gas from $55.00 to $44.00 and set a "buy" rating for the company in a report on Monday, September 30th. Bank of America increased their price objective on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a "buy" rating in a report on Wednesday, July 10th. 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. Finally, Mizuho initiated coverage on shares of Northern Oil and Gas in a research note on Thursday, September 19th. They issued an "outperform" rating and a $47.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $46.80.

Northern Oil and Gas Stock Up 0.9 %

NOG stock opened at $37.67 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average of $37.55 and a two-hundred day moving average of $38.98. 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 market cap of $3.81 billion, a price-to-earnings ratio of 6.11 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.20 by $0.26. The firm had revenue of $560.80 million during the quarter, compared to analysts' expectations of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The business's revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 earnings per share. As a group, analysts forecast that Northern Oil and Gas, Inc. will post 5.29 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.40. Northern Oil and Gas's payout ratio is currently 27.23%.

Insider Activity

In related news, insider Erik J. Romslo sold 1,500 shares of the firm's stock in a transaction dated 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 directly owns 105,713 shares in the company, valued at approximately $3,727,440.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Erik J. Romslo sold 1,500 shares of the 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 completion of the sale, the insider now owns 105,713 shares of the company's stock, valued at $3,727,440.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction that occurred 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 sale, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,008 shares of company stock valued at $228,013. 2.80% of the stock is currently owned by 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.