Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 14.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,692 shares of the company’s stock after selling 1,683 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Northern Oil and Gas were worth $360,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOG. GAMMA Investing LLC boosted its holdings in Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after acquiring an additional 528 shares in the last quarter. Strs Ohio raised its position in shares of Northern Oil and Gas by 13.0% in the 4th quarter. Strs Ohio now owns 6,100 shares of the company’s stock valued at $226,000 after purchasing an additional 700 shares during the last quarter. Insight Wealth Strategies LLC raised its position in shares of Northern Oil and Gas by 2.7% in the 2nd quarter. Insight Wealth Strategies LLC now owns 27,197 shares of the company’s stock valued at $1,011,000 after purchasing an additional 717 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Northern Oil and Gas by 8.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,063 shares of the company’s stock worth $410,000 after purchasing an additional 816 shares in the last quarter. Finally, Range Financial Group LLC grew its position in Northern Oil and Gas by 12.6% during the 1st quarter. Range Financial Group LLC now owns 7,289 shares of the company’s stock worth $289,000 after purchasing an additional 816 shares during the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NOG has been the subject of a number of research analyst reports. Truist Financial raised their price target on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. StockNews.com cut Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Bank of America boosted their price target on Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Piper Sandler decreased their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Insiders Place Their Bets

In other news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $38.01, for a total transaction of $142,537.50. Following the sale, the chief executive officer now directly owns 224,332 shares in the company, valued at approximately $8,526,859.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $37.88, for a total transaction of $52,728.96. Following the completion of the transaction, the president now directly owns 107,628 shares in the company, valued at $4,076,948.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now directly owns 224,332 shares in the company, valued at $8,526,859.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,534 shares of company stock worth $252,144. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Stock Up 4.1 %

Northern Oil and Gas stock opened at $39.61 on Friday. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $43.80. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 6.42 and a beta of 1.79. The business’s 50-day moving average price is $38.84 and its 200 day moving average price is $38.74. The company has a quick ratio of 0.96, a current ratio of 0.89 and a debt-to-equity ratio of 0.91.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The business had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. During the same quarter last year, the company earned $1.49 EPS. The business’s revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.12 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.42 dividend. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a yield of 4.24%. Northern Oil and Gas’s payout ratio is presently 27.23%.

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.