Hancock Whitney Corp Sells 637 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Hancock Whitney Corp decreased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 10.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,673 shares of the company’s stock after selling 637 shares during the quarter. Hancock Whitney Corp’s holdings in Northern Oil and Gas were worth $201,000 at the end of the most recent quarter.

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

Northern Oil and Gas Price Performance

Shares of NOG stock opened at $43.46 on Thursday. The stock has a 50 day moving average price of $38.73 and a 200 day moving average price of $38.62. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $44.31. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $4.34 billion, a P/E ratio of 5.22 and a beta of 1.80.

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

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a $0.42 dividend. The ex-dividend date of this dividend 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 (DPR) is 20.17%.

Insiders Place Their Bets

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the sale, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 2.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Erik J. Romslo sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the transaction, the insider now owns 105,713 shares in the company, valued at approximately $3,727,440.38. This represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,508 shares of company stock worth $248,113 in the last three months. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Truist Financial upped their price target on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. 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 target price on the stock. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Piper Sandler upped their price objective on Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Finally, Jefferies Financial Group assumed coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

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.