Federated Hermes Inc. Has $591,000 Holdings in Northern Oil and Gas, Inc. $NOG

Federated Hermes Inc. trimmed its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 67.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,842 shares of the company’s stock after selling 48,841 shares during the quarter. Federated Hermes Inc.’s holdings in Northern Oil and Gas were worth $591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. First Horizon Corp acquired a new position in shares of Northern Oil and Gas during the 3rd quarter worth $27,000. Laurel Wealth Advisors LLC boosted its holdings in Northern Oil and Gas by 2,736.1% in the second quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock worth $29,000 after purchasing an additional 985 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after buying an additional 713 shares in the last quarter. IFP Advisors Inc raised its holdings in Northern Oil and Gas by 315.7% during the second quarter. IFP Advisors Inc now owns 1,351 shares of the company’s stock valued at $38,000 after buying an additional 1,026 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock worth $43,000 after buying an additional 1,228 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NOG stock opened at $25.67 on Friday. The stock’s fifty day simple moving average is $22.86 and its 200 day simple moving average is $23.71. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $36.95. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 14.50 and a beta of 1.01. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.10 and a quick ratio of 1.10.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Thursday, November 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.21. Northern Oil and Gas had a return on equity of 20.61% and a net margin of 7.61%.The company had revenue of $556.64 million during the quarter, compared to analysts’ expectations of $528.36 million. During the same period last year, the business earned $1.40 earnings per share. The business’s revenue was down 26.1% on a year-over-year basis. On average, analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Citigroup dropped their price target on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Morgan Stanley set a $24.00 target price on shares of Northern Oil and Gas and gave the stock an “underweight” rating in a report on Friday, January 23rd. Royal Bank Of Canada decreased their price target on shares of Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating for the company in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Thursday, January 22nd. Finally, Mizuho set a $29.00 price objective on Northern Oil and Gas in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.29.

Northern Oil and Gas 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.