Glenmede Trust Co. NA Raises Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Glenmede Trust Co. NA lifted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 37.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,256 shares of the company’s stock after purchasing an additional 2,541 shares during the period. Glenmede Trust Co. NA’s holdings in Northern Oil and Gas were worth $328,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake 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 in the last quarter. Easterly Investment Partners LLC increased its stake in shares of Northern Oil and Gas by 0.8% during the 3rd quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock worth $1,792,000 after purchasing an additional 380 shares in the last quarter. Signaturefd LLC increased its stake in shares of Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after purchasing an additional 427 shares in the last quarter. CWM LLC increased 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 purchasing an additional 444 shares in the last quarter. Finally, GAMMA Investing LLC increased 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 purchasing an additional 528 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction dated 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 transaction, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 2.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Erik J. Romslo sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction of $52,890.00. Following the completion of the transaction, the insider now owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. This trade represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,508 shares of company stock valued at $248,113 in the last quarter. Insiders own 2.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $41.73 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $44.31. The firm has a 50-day simple moving average of $39.34 and a 200 day simple moving average of $38.73. The company has a market cap of $4.17 billion, a PE ratio of 5.01 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $540.23 million. During the same quarter in the prior year, the firm earned $1.73 EPS. The company’s revenue for the quarter was up 140.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.4 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio is presently 20.17%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NOG. Truist Financial lifted 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 note on Thursday, November 7th. Mizuho began 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 target price for the company. Piper Sandler lifted their target price on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Jefferies Financial Group began coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price for the company. Finally, Morgan Stanley lowered their target price 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 analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.50.

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.