Pin Oak Investment Advisors Inc. Has $3.98 Million Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Pin Oak Investment Advisors Inc. cut its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 0.5% during the third quarter, Holdings Channel reports. The fund owned 112,368 shares of the company’s stock after selling 520 shares during the period. Northern Oil and Gas makes up about 3.6% of Pin Oak Investment Advisors Inc.’s portfolio, making the stock its 7th biggest position. Pin Oak Investment Advisors Inc.’s holdings in Northern Oil and Gas were worth $3,978,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Northern Oil and Gas by 6.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 51,720 shares of the company’s stock valued at $2,053,000 after purchasing an additional 3,251 shares in the last quarter. Verity Asset Management Inc. bought a new position in Northern Oil and Gas in the 1st quarter valued at $423,000. Boston Partners bought a new position in Northern Oil and Gas in the 1st quarter valued at $885,000. GAMMA Investing LLC increased its stake in shares of Northern Oil and Gas by 91.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after buying an additional 528 shares during the period. Finally, Insight Wealth Strategies LLC raised its position in shares of Northern Oil and Gas by 2.7% during the second quarter. Insight Wealth Strategies LLC now owns 27,197 shares of the company’s stock worth $1,011,000 after acquiring an additional 717 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NOG. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Mizuho initiated coverage on shares of Northern Oil and Gas in a research report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price target for the company. Morgan Stanley cut 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 report on Monday, September 16th. Truist Financial lifted their target price on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group initiated coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Insider Buying and Selling

In other news, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the sale, the insider now directly owns 105,713 shares in the company, valued at $3,727,440.38. The trade was a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, 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 ninety days, insiders sold 6,508 shares of company stock valued at $248,113. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Trading Up 0.8 %

NYSE NOG opened at $43.46 on Thursday. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $44.31. 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 cap of $4.34 billion, a P/E ratio of 5.22 and a beta of 1.80. The stock’s 50-day moving average is $38.73 and its 200-day moving average is $38.62.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.20 by $0.20. The firm had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business’s quarterly revenue was up 140.0% on a year-over-year basis. During the same period last year, the company posted $1.73 EPS. Sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.42 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be given a $0.42 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 3.87%. Northern Oil and Gas’s dividend payout ratio is currently 20.17%.

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.