Harbor Capital Advisors Inc. Sells 118,641 Shares of Northern Oil and Gas, Inc. $NOG

Harbor Capital Advisors Inc. decreased its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 71.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,177 shares of the company’s stock after selling 118,641 shares during the period. Harbor Capital Advisors Inc.’s holdings in Northern Oil and Gas were worth $1,195,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its position in Northern Oil and Gas by 133.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company’s stock valued at $27,000 after purchasing an additional 545 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Northern Oil and Gas by 200.3% during the second quarter. UMB Bank n.a. now owns 955 shares of the company’s stock valued at $27,000 after buying an additional 637 shares during the last quarter. Laurel Wealth Advisors LLC boosted its holdings in shares of Northern Oil and Gas by 2,736.1% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock valued at $29,000 after buying an additional 985 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Northern Oil and Gas by 181.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after buying an additional 713 shares during the last quarter. Finally, IFP Advisors Inc grew its position in shares of Northern Oil and Gas by 315.7% in the 2nd quarter. IFP Advisors Inc now owns 1,351 shares of the company’s stock worth $38,000 after buying an additional 1,026 shares during the last quarter. 98.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on NOG. Morgan Stanley reaffirmed an “underweight” rating and issued a $26.00 price target (down from $27.00) on shares of Northern Oil and Gas in a report on Tuesday, October 14th. Citigroup dropped their target price on Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Wednesday, October 8th. Finally, Mizuho raised their price target on Northern Oil and Gas from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $33.25.

Northern Oil and Gas Price Performance

NYSE NOG opened at $21.37 on Friday. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 12.07 and a beta of 1.05. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s fifty day moving average price is $22.18 and its 200 day moving average price is $25.17. Northern Oil and Gas, Inc. has a 1 year low of $19.88 and a 1 year high of $42.35.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Monday, March 6th. The company reported $1.06 earnings per share for the quarter. The business had revenue of $319.19 million for the quarter. Northern Oil and Gas had a return on equity of 20.61% and a net margin of 7.61%. As a group, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Tuesday, December 30th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.4%. The ex-dividend date is Tuesday, December 30th. Northern Oil and Gas’s dividend payout ratio is 101.69%.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.