Wesbanco Bank Inc. Makes New $1.08 Million Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

Wesbanco Bank Inc. bought a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) during the third quarter, HoldingsChannel reports. The institutional investor bought 30,500 shares of the company’s stock, valued at approximately $1,080,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NOG. Vanguard Group Inc. increased its holdings in Northern Oil and Gas by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after purchasing an additional 43,940 shares during the period. UniSuper Management Pty Ltd bought a new position in shares of Northern Oil and Gas during the 1st quarter worth $1,046,000. Motley Fool Asset Management LLC increased its stake in shares of Northern Oil and Gas by 29.0% during the first quarter. Motley Fool Asset Management LLC now owns 72,533 shares of the company’s stock valued at $2,878,000 after buying an additional 16,302 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in shares of Northern Oil and Gas by 1.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock valued at $29,747,000 after acquiring an additional 12,814 shares in the last quarter. Finally, Capstone Investment Advisors LLC raised its holdings in shares of Northern Oil and Gas by 8,679.3% in the first quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock valued at $20,355,000 after acquiring an additional 507,129 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Insider Activity

In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of Northern Oil and Gas stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction of $52,890.00. Following the completion of the sale, the insider now owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Erik J. Romslo sold 1,500 shares of the stock in a transaction that occurred 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 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the transaction, the president now directly owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,008 shares of company stock valued at $228,013 over the last ninety days. 2.80% of the stock is currently owned by insiders.

Northern Oil and Gas Trading Down 5.1 %

Northern Oil and Gas stock opened at $37.60 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $3.80 billion, a PE ratio of 6.09 and a beta of 1.81. The stock has a 50-day moving average of $37.61 and a two-hundred day moving average of $39.09. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $43.80.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.20 by $0.26. The firm had revenue of $560.80 million during the quarter, compared to analyst estimates of $542.28 million. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. Northern Oil and Gas’s revenue was up 17.7% on a year-over-year basis. During the same period last year, the firm posted $1.49 EPS. On average, research analysts anticipate that Northern Oil and Gas, Inc. will post 5.29 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.42 per share. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Friday, September 27th. Northern Oil and Gas’s payout ratio is presently 27.23%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NOG shares. Morgan Stanley dropped their target price 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. Bank of America lifted their price objective on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Piper Sandler dropped their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group initiated coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.

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.