Wesbanco Bank Inc. Sells 30,500 Shares of Northern Oil and Gas, Inc. $NOG

Wesbanco Bank Inc. lessened its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 58.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,000 shares of the company’s stock after selling 30,500 shares during the quarter. Wesbanco Bank Inc.’s holdings in Northern Oil and Gas were worth $546,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. AQR Capital Management LLC raised its position in Northern Oil and Gas by 55.1% during the first quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock valued at $1,233,000 after purchasing an additional 14,492 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Northern Oil and Gas by 3.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,334 shares of the company’s stock valued at $1,763,000 after buying an additional 1,865 shares during the period. Jones Financial Companies Lllp raised its holdings 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 valued at $33,000 after purchasing an additional 713 shares in the last quarter. Empowered Funds LLC lifted its holdings in Northern Oil and Gas by 5.0% during the first quarter. Empowered Funds LLC now owns 65,217 shares of the company’s stock worth $1,972,000 after buying an additional 3,124 shares during the period. Finally, Intech Investment Management LLC grew its stake in Northern Oil and Gas by 41.8% in the first quarter. Intech Investment Management LLC now owns 46,453 shares of the company’s stock valued at $1,404,000 after purchasing an additional 13,690 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Trading Up 3.7%

Shares of Northern Oil and Gas stock opened at $26.59 on Thursday. 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 50 day simple moving average is $23.02 and its 200-day simple moving average is $23.66. The stock has a market cap of $2.60 billion, a P/E ratio of 15.02 and a beta of 1.01. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $36.16.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NOG shares. Weiss Ratings restated a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Thursday, January 22nd. Citigroup cut their price objective on shares of 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. Morgan Stanley set a $24.00 price target on Northern Oil and Gas and gave the company an “underweight” rating in a research report on Friday, January 23rd. Mizuho set a $29.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada cut 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Northern Oil and Gas currently has an average rating of “Hold” and a consensus price target of $29.29.

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.