Victory Capital Management Inc. Has $29.78 Million Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Victory Capital Management Inc. trimmed its holdings in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 2.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 840,908 shares of the company's stock after selling 25,436 shares during the period. Victory Capital Management Inc. owned 0.84% of Northern Oil and Gas worth $29,777,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Northern Oil and Gas by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company's stock valued at $421,857,000 after acquiring an additional 43,940 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in shares of Northern Oil and Gas in the first quarter valued at approximately $1,046,000. Silvercrest Asset Management Group LLC lifted its stake in shares of Northern Oil and Gas by 1.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company's stock worth $29,747,000 after buying an additional 12,814 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Northern Oil and Gas by 290.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 84,213 shares of the company's stock worth $3,130,000 after buying an additional 62,649 shares during the period. Finally, Boston Partners acquired a new position in Northern Oil and Gas in the 1st quarter valued at $885,000. Institutional investors and hedge funds own 98.80% of the company's stock.

Insider Transactions at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 2,508 shares of the firm's stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erik J. Romslo sold 1,500 shares of the business's 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 directly owns 105,713 shares of the company's stock, valued at $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. Over the last three months, insiders have sold 6,508 shares of company stock worth $248,113. Corporate insiders own 2.80% of the company's stock.

Northern Oil and Gas Price Performance

NOG traded down $0.40 during trading on Friday, hitting $40.50. The company's stock had a trading volume of 730,336 shares, compared to its average volume of 1,164,730. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 4.86 and a beta of 1.80. The firm's 50 day moving average price is $37.51 and its two-hundred day moving average price is $38.50. 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 released its quarterly 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. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The business had revenue of $753.64 million during the quarter, compared to analysts' expectations of $540.23 million. During the same period in the previous year, the business posted $1.73 earnings per share. The firm's revenue for the quarter was up 140.0% compared to the same quarter last year. Sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NOG has been the subject of a number of research analyst reports. Truist Financial boosted their target price on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Jefferies Financial Group started coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They set a "buy" rating and a $53.00 price target on the stock. Piper Sandler dropped their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a "neutral" rating for the company in a research report on Thursday, August 15th. Morgan Stanley decreased their price objective on 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, Mizuho initiated coverage on Northern Oil and Gas in a report on Thursday, September 19th. They issued an "outperform" rating and a $47.00 target price for the company. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

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.