Douglas Lane & Associates LLC Sells 500 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Douglas Lane & Associates LLC cut its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 7.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,550 shares of the company’s stock after selling 500 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Northern Oil and Gas were worth $243,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP increased its stake in shares of Northern Oil and Gas by 9.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,537,719 shares of the company’s stock worth $57,003,000 after purchasing an additional 131,448 shares during the last quarter. Ninepoint Partners LP increased its stake in shares of Northern Oil and Gas by 12.5% during the 4th quarter. Ninepoint Partners LP now owns 450,000 shares of the company’s stock worth $16,682,000 after purchasing an additional 50,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Northern Oil and Gas by 34.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,963 shares of the company’s stock worth $555,000 after purchasing an additional 3,848 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Northern Oil and Gas by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after purchasing an additional 43,940 shares during the last quarter. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Northern Oil and Gas during the 1st quarter worth about $1,046,000. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Price Performance

NYSE:NOG traded down $0.22 on Tuesday, hitting $36.42. The company had a trading volume of 1,679,436 shares, compared to its average volume of 1,357,838. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 6.00 and a beta of 1.79. The company has a current ratio of 0.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average of $38.92 and a two-hundred day moving average of $38.32. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $43.80.

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, beating the consensus estimate of $1.20 by $0.26. The business had revenue of $560.80 million during the quarter, compared to the consensus estimate of $542.28 million. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.49 EPS. On average, research analysts anticipate that Northern Oil and Gas, Inc. will post 5.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NOG has been the topic of several recent analyst reports. Piper Sandler boosted their price objective on shares of Northern Oil and Gas from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Morgan Stanley increased their target price on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Stifel Nicolaus increased their target price on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Northern Oil and Gas presently has an average rating of “Moderate Buy” and a consensus price target of $48.90.

Insider Activity

In other news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 224,332 shares of the company’s stock, valued at $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 news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Adam A. Dirlam sold 1,392 shares of the firm’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 transaction, the president now directly owns 107,628 shares of the company’s stock, valued at approximately $4,076,948.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,534 shares of company stock valued at $252,144. Insiders own 2.80% of the company’s stock.

Northern Oil and Gas Company 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.