Empowered Funds LLC Grows Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Empowered Funds LLC increased its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,094 shares of the company’s stock after acquiring an additional 4,104 shares during the period. Empowered Funds LLC owned about 0.06% of Northern Oil and Gas worth $2,199,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NOG. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Northern Oil and Gas by 1.4% during the 2nd 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 purchasing an additional 320 shares during the last quarter. Easterly Investment Partners LLC increased its position in 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 during the period. Signaturefd LLC boosted its holdings in shares of Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after acquiring an additional 427 shares during the period. CWM LLC grew its position in 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 purchasing an additional 444 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Northern Oil and Gas by 91.5% during the second 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 last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOG has been the topic of several recent research reports. Mizuho started 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 objective on the stock. 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 target for the company. Truist Financial raised their target price on Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Morgan Stanley dropped their price objective on 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. Finally, Piper Sandler boosted their price objective on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $41.57 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $43.80. The business has a 50-day moving average of $37.79 and a 200-day moving average of $38.50. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 4.93 and a beta of 1.80.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The firm had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. Northern Oil and Gas’s revenue for the quarter was up 140.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.73 earnings per share. On average, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.38 EPS for the current fiscal year.

Insider Activity

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction 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 approximately $4,153,226. This trade represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Chad W. Allen sold 1,500 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the transaction, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at $3,351,680. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,508 shares of company stock worth $248,113. 2.80% of the stock is currently owned by insiders.

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.