Phocas Financial Corp. Sells 9,310 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Phocas Financial Corp. lessened its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 153,644 shares of the company’s stock after selling 9,310 shares during the quarter. Phocas Financial Corp.’s holdings in Northern Oil and Gas were worth $5,441,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NOG. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of Northern Oil and Gas by 1.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock valued at $849,000 after buying an additional 320 shares during the period. Easterly Investment Partners LLC raised its stake in Northern Oil and Gas by 0.8% in the 3rd quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock valued at $1,792,000 after acquiring an additional 380 shares during the period. Signaturefd LLC lifted its holdings in Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares during the last quarter. CWM LLC boosted its position in Northern Oil and Gas by 24.8% during the third quarter. CWM LLC now owns 2,237 shares of the company’s stock worth $79,000 after purchasing an additional 444 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 528 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $41.25 on Tuesday. The company’s fifty day moving average price is $37.51 and its 200-day moving average price is $38.49. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 4.95 and a beta of 1.80. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $43.80.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. During the same quarter in the prior year, the firm earned $1.73 earnings per share. The firm’s revenue was up 140.0% on a year-over-year basis. On average, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.38 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Chad W. Allen sold 1,500 shares of Northern Oil and Gas stock in a transaction on Monday, October 7th. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the transaction, the chief financial officer now owns 83,792 shares in the company, valued at $3,351,680. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the completion of the sale, the president now directly owns 107,876 shares of the company’s stock, valued at $4,153,226. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,508 shares of company stock worth $248,113. 2.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NOG shares. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective for the company. Truist Financial raised their price target 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. Morgan Stanley reduced 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 report on Monday, September 16th. StockNews.com cut Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, 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 report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.60.

About Northern Oil and Gas

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.