Great Valley Advisor Group Inc. Grows Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Great Valley Advisor Group Inc. lifted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 14.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,240 shares of the company’s stock after acquiring an additional 2,370 shares during the period. Great Valley Advisor Group Inc.’s holdings in Northern Oil and Gas were worth $681,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NOG. American Century Companies Inc. boosted its stake in Northern Oil and Gas by 11.0% in the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after acquiring an additional 552,645 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Northern Oil and Gas by 45.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock valued at $93,744,000 after purchasing an additional 789,985 shares during the last quarter. Copeland Capital Management LLC boosted its position in shares of Northern Oil and Gas by 0.6% in the 3rd quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock valued at $74,245,000 after purchasing an additional 12,079 shares during the period. Bank of New York Mellon Corp grew its stake in Northern Oil and Gas by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,220,044 shares of the company’s stock worth $45,349,000 after buying an additional 49,632 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Northern Oil and Gas by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock valued at $34,902,000 after acquiring an additional 103,314 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Insider Activity at Northern Oil and Gas

In related 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 stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer now directly owns 83,792 shares in the company, valued at $3,351,680. The trade was a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction that occurred on 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 sale, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,508 shares of company stock valued at $248,113 in the last ninety days. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. 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. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Piper Sandler lifted their target price on Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Morgan Stanley cut their price target 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, Royal Bank of Canada cut shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $43.00 to $45.00 in a research note on Wednesday, November 20th. 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $43.13 on Wednesday. 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 $43.80. The firm’s fifty day simple moving average is $38.59 and its 200-day simple moving average is $38.58. The stock has a market cap of $4.31 billion, a PE ratio of 5.18 and a beta of 1.80.

Northern Oil and Gas (NYSE:NOG) last issued its 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. 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 net margin of 33.44% and a return on equity of 27.52%. The firm’s quarterly revenue was up 140.0% compared to the same quarter last year. During the same period last year, the company posted $1.73 earnings per share. Analysts expect that Northern Oil and Gas, Inc. will post 5.42 earnings per share for the current fiscal year.

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.