SG Americas Securities LLC Sells 6,776 Shares of Northern Oil and Gas, Inc. (NYSEAMERICAN:NOG)

SG Americas Securities LLC cut its holdings in shares of Northern Oil and Gas, Inc. (NYSEAMERICAN:NOG – Get Rating) by 37.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,257 shares of the energy company’s stock after selling 6,776 shares during the period. SG Americas Securities LLC’s holdings in Northern Oil and Gas were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOG. Advisor Group Holdings Inc. lifted its stake in shares of Northern Oil and Gas by 2.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 33,003 shares of the energy company’s stock worth $679,000 after buying an additional 769 shares during the period. TCI Wealth Advisors Inc. purchased a new position in shares of Northern Oil and Gas during the first quarter worth $29,000. Geneos Wealth Management Inc. raised its holdings in shares of Northern Oil and Gas by 14.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 9,240 shares of the energy company’s stock worth $190,000 after purchasing an additional 1,200 shares during the last quarter. Comerica Bank raised its holdings in shares of Northern Oil and Gas by 12.1% during the first quarter. Comerica Bank now owns 11,862 shares of the energy company’s stock worth $346,000 after purchasing an additional 1,283 shares during the last quarter. Finally, Doliver Advisors LP raised its holdings in shares of Northern Oil and Gas by 11.7% during the fourth quarter. Doliver Advisors LP now owns 19,592 shares of the energy company’s stock worth $481,000 after purchasing an additional 2,049 shares during the last quarter. 88.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TheStreet raised shares of Northern Oil and Gas from a “d” rating to a “b-” rating in a report on Wednesday, August 3rd. Raymond James lifted their price objective on shares of Northern Oil and Gas from $48.00 to $55.00 in a report on Thursday, June 9th. Bank of America cut their price objective on shares of Northern Oil and Gas from $38.00 to $32.00 in a report on Tuesday, July 19th. Piper Sandler cut their price objective on shares of Northern Oil and Gas from $51.00 to $49.00 in a report on Friday, July 22nd. Finally, Citigroup lifted their price objective on shares of Northern Oil and Gas from $31.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, April 26th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Northern Oil and Gas presently has an average rating of “Moderate Buy” and an average target price of $42.56.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, major shareholder Robert B. Rowling sold 400,000 shares of the business’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $33.26, for a total value of $13,304,000.00. Following the transaction, the insider now directly owns 8,563,719 shares in the company, valued at approximately $284,829,293.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Robert B. Rowling sold 117,860 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $33.01, for a total value of $3,890,558.60. Following the sale, the insider now directly owns 8,263,719 shares of the company’s stock, valued at approximately $272,785,364.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Robert B. Rowling sold 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $33.26, for a total transaction of $13,304,000.00. Following the completion of the sale, the insider now directly owns 8,563,719 shares in the company, valued at $284,829,293.94. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by company insiders.

Northern Oil and Gas Trading Up 4.2 %

Shares of NYSEAMERICAN NOG opened at $26.76 on Monday. The stock has a market capitalization of $2.07 billion, a PE ratio of -26.24, a P/E/G ratio of 0.51 and a beta of 2.25. Northern Oil and Gas, Inc. has a 52-week low of $14.03 and a 52-week high of $39.10. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 3.73.

Northern Oil and Gas (NYSEAMERICAN:NOG – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The energy company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Northern Oil and Gas had a net margin of 1.28% and a negative return on equity of 351.74%. During the same quarter last year, the firm earned $0.92 EPS. Equities analysts expect that Northern Oil and Gas, Inc. will post 5.76 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, September 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.19. This represents a $1.00 dividend on an annualized basis and a yield of 3.74%. Northern Oil and Gas’s payout ratio is presently -74.51%.

About Northern Oil and Gas

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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. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.

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