Northern Oil and Gas, Inc. (NYSE:NOG) Stock Position Cut by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust decreased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 433,550 shares of the company’s stock after selling 19,864 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Northern Oil and Gas were worth $15,352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its holdings in Northern Oil and Gas by 17.0% during the first quarter. Janney Montgomery Scott LLC now owns 9,992 shares of the company’s stock worth $396,000 after purchasing an additional 1,453 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Northern Oil and Gas in the 1st quarter worth $7,780,000. Easterly Investment Partners LLC lifted its holdings in shares of Northern Oil and Gas by 2.2% in the first quarter. Easterly Investment Partners LLC now owns 50,521 shares of the company’s stock valued at $2,005,000 after buying an additional 1,094 shares during the period. Texas Permanent School Fund Corp boosted its stake in Northern Oil and Gas by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 79,883 shares of the company’s stock valued at $3,170,000 after buying an additional 875 shares in the last quarter. Finally, Oxbow Advisors LLC bought a new position in Northern Oil and Gas during the first quarter valued at about $5,652,000. 98.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group started 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 target for the company. Truist Financial cut their target price on shares of Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Morgan Stanley decreased their price target 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. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Bank of America lifted their target price on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.80.

Insider Buying and Selling at Northern Oil and Gas

In other news, CFO Chad W. Allen sold 1,500 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at $3,351,680. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction on Thursday, October 3rd. The shares were 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 owns 107,876 shares of the company’s stock, valued at $4,153,226. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Chad W. Allen sold 1,500 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the transaction, the chief financial officer now owns 83,792 shares in the company, valued at approximately $3,351,680. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,008 shares of company stock valued at $228,013 in the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

Northern Oil and Gas Price Performance

NOG opened at $35.82 on Friday. Northern Oil and Gas, Inc. has a 12-month low of $31.13 and a 12-month high of $43.80. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $3.59 billion, a P/E ratio of 6.34 and a beta of 1.80. The stock has a fifty day moving average of $37.24 and a 200-day moving average of $38.69.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, September 27th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 4.69%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 29.73%.

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.