Cahill Financial Advisors Inc. Reduces Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Cahill Financial Advisors Inc. lessened its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 3.3% in the third quarter, Holdings Channel reports. The institutional investor owned 59,027 shares of the company’s stock after selling 2,022 shares during the quarter. Cahill Financial Advisors Inc.’s holdings in Northern Oil and Gas were worth $2,090,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Northern Oil and Gas by 0.4% in the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after buying an additional 43,940 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Northern Oil and Gas by 11.0% in the 2nd 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 raised 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 acquiring an additional 789,985 shares in the last quarter. Copeland Capital Management LLC boosted its position in shares of Northern Oil and Gas by 0.6% during the 3rd quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock valued at $74,245,000 after acquiring an additional 12,079 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Northern Oil and Gas by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 1,220,044 shares of the company’s stock worth $45,349,000 after purchasing an additional 49,632 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Trading Up 2.0 %

Shares of NOG stock opened at $43.20 on Friday. The business has a 50-day moving average of $38.28 and a 200 day moving average of $38.57. 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 stock has a market capitalization of $4.31 billion, a PE ratio of 5.19 and a beta of 1.80.

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 the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The firm had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. During the same quarter in the previous year, the company posted $1.73 earnings per share. The business’s revenue was up 140.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.42 earnings per share for the current year.

Insider Activity at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction that occurred 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Erik J. Romslo sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the transaction, the insider now owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. This represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,508 shares of company stock worth $248,113 in the last three months. 2.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group started 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 on the stock. Morgan Stanley lowered their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada lowered shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $43.00 to $45.00 in a research report on Wednesday. Piper Sandler lifted their price target on 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. Finally, Truist Financial upped their price objective on Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.