Covestor Ltd Has $67,000 Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Covestor Ltd lifted its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 122.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,903 shares of the company’s stock after buying an additional 1,048 shares during the period. Covestor Ltd’s holdings in Northern Oil and Gas were worth $67,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Easterly Investment Partners LLC grew its holdings in shares of Northern Oil and Gas by 0.8% during the third quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock worth $1,792,000 after buying an additional 380 shares in the last quarter. Heritage Wealth Management Inc. lifted its position in shares of Northern Oil and Gas by 11.4% in the third quarter. Heritage Wealth Management Inc. now owns 27,460 shares of the company’s stock worth $972,000 after purchasing an additional 2,800 shares in the last quarter. Verity Asset Management Inc. boosted its holdings in Northern Oil and Gas by 9.3% during the third quarter. Verity Asset Management Inc. now owns 13,335 shares of the company’s stock worth $472,000 after purchasing an additional 1,130 shares during the last quarter. Amalgamated Bank increased its stake in Northern Oil and Gas by 3.9% in the 3rd quarter. Amalgamated Bank now owns 29,290 shares of the company’s stock valued at $1,037,000 after buying an additional 1,108 shares during the last quarter. Finally, Emerald Advisers LLC lifted its position in Northern Oil and Gas by 7.9% during the 3rd quarter. Emerald Advisers LLC now owns 611,509 shares of the company’s stock worth $21,654,000 after buying an additional 44,510 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NOG. Mizuho began coverage on Northern Oil and Gas in a research report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 target price on the stock. 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 price target on the stock. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Piper Sandler lowered their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Finally, Morgan Stanley cut their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $40.90 on Friday. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $43.80. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 4.91 and a beta of 1.80. The company has a 50-day simple moving average of $37.30 and a 200 day simple moving average of $38.52. 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 (NYSE:NOG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The business’s revenue was up 140.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.73 earnings per share. On average, sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.38 earnings per share for the current year.

Insider Buying and Selling at Northern Oil and Gas

In other 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 shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the completion of the sale, the chief financial officer now directly owns 83,792 shares in the company, valued at approximately $3,351,680. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Adam A. Dirlam sold 2,508 shares of the 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 sale, the president now directly owns 107,876 shares in the company, valued at $4,153,226. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,508 shares of company stock valued at $248,113 in the last ninety days. 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.