Harbor Capital Advisors Inc. Grows Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Harbor Capital Advisors Inc. grew its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,100 shares of the company’s stock after buying an additional 2,636 shares during the period. Harbor Capital Advisors Inc. owned 0.14% of Northern Oil and Gas worth $5,243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOG. Legacy Investment Solutions LLC acquired a new stake in Northern Oil and Gas in the 3rd quarter valued at about $25,000. Signaturefd LLC grew its position in shares of Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares in the last quarter. Quarry LP increased its holdings in shares of Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after purchasing an additional 874 shares during the last quarter. GAMMA Investing LLC lifted its position in Northern Oil and Gas by 58.6% during the third quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock worth $62,000 after buying an additional 647 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Northern Oil and Gas by 122.6% during the third quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after buying an additional 1,048 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NOG shares. Morgan Stanley cut their target price 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. Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research note on Monday, December 16th. Piper Sandler dropped their price target on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 price objective on shares of Northern Oil and Gas in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and an average target price of $47.20.

Northern Oil and Gas Stock Up 1.3 %

Shares of NYSE NOG opened at $39.93 on Friday. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $44.31. The business’s 50 day moving average is $39.79 and its two-hundred day moving average is $38.68. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 4.79 and a beta of 1.85. 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 (NYSE:NOG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $540.23 million. During the same quarter in the previous year, the business earned $1.73 EPS. The company’s quarterly revenue was up 140.0% compared to the same quarter last year. Research analysts predict that Northern Oil and Gas, Inc. will post 5.4 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s payout ratio is 20.17%.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares of the company’s stock, valued at $3,752,697. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.80% of the company’s stock.

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.