Quantbot Technologies LP Sells 37,228 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Quantbot Technologies LP decreased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 45.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,112 shares of the company's stock after selling 37,228 shares during the period. Quantbot Technologies LP's holdings in Northern Oil and Gas were worth $1,597,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NOG. Price T Rowe Associates Inc. MD increased its stake in shares of Northern Oil and Gas by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,720 shares of the company's stock valued at $2,053,000 after buying an additional 3,251 shares during the period. Boston Partners bought a new position in shares of Northern Oil and Gas in the 1st quarter valued at about $885,000. GAMMA Investing LLC grew its position 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 buying an additional 528 shares during the period. Insight Wealth Strategies LLC raised its stake in shares of Northern Oil and Gas by 2.7% during the second quarter. Insight Wealth Strategies LLC now owns 27,197 shares of the company's stock worth $1,011,000 after buying an additional 717 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in Northern Oil and Gas by 290.5% in the second quarter. Harbor Capital Advisors Inc. now owns 84,213 shares of the company's stock valued at $3,130,000 after buying an additional 62,649 shares during the period. Institutional investors own 98.80% of the company's stock.

Insider Activity at Northern Oil and Gas

In other news, CFO Chad W. Allen sold 1,500 shares of the 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 transaction, the chief financial officer now owns 83,792 shares in the company, valued at approximately $3,351,680. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Adam A. Dirlam sold 2,508 shares of the business's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the sale, the president now owns 107,876 shares of the company's stock, valued at $4,153,226. This trade represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,508 shares of company stock valued at $248,113. 2.80% of the stock is owned by corporate insiders.

Northern Oil and Gas Stock Up 0.1 %

Northern Oil and Gas stock traded up $0.03 during midday trading on Friday, reaching $43.49. The stock had a trading volume of 599,399 shares, compared to its average volume of 1,309,977. The stock has a market capitalization of $4.34 billion, a P/E ratio of 5.22 and a beta of 1.80. The firm's fifty day simple moving average is $38.98 and its 200-day simple moving average is $38.67. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business had revenue of $753.64 million during the quarter, compared to analysts' expectations of $540.23 million. During the same quarter in the prior year, the company posted $1.73 earnings per share. The firm's revenue was up 140.0% on a year-over-year basis. As a group, analysts expect that Northern Oil and Gas, Inc. will post 5.4 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.86%. Northern Oil and Gas's dividend payout ratio is 20.17%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank of Canada cut Northern Oil and Gas from an "outperform" rating to a "sector perform" rating and lifted their price objective for the stock from $43.00 to $45.00 in a research note on Wednesday, November 20th. Jefferies Financial Group started coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They set a "buy" rating and a $53.00 target price for the company. Mizuho started coverage on shares of Northern Oil and Gas in a research note on Thursday, September 19th. They set an "outperform" rating and a $47.00 price objective on the stock. Morgan Stanley cut their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating on the stock in a report on Monday, September 16th. Finally, Piper Sandler boosted their price target on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, November 18th. One equities 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Northern Oil and Gas has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

About Northern Oil and Gas

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.