Penn Capital Management Company LLC Sells 39,180 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Penn Capital Management Company LLC reduced its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 349,944 shares of the company's stock after selling 39,180 shares during the quarter. Penn Capital Management Company LLC owned approximately 0.35% of Northern Oil and Gas worth $13,004,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NOG. Avior Wealth Management LLC increased its stake in Northern Oil and Gas by 23.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock valued at $51,000 after purchasing an additional 259 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Northern Oil and Gas by 9.1% in the fourth quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company's stock worth $129,000 after acquiring an additional 289 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in Northern Oil and Gas by 2.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock worth $487,000 after acquiring an additional 298 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Northern Oil and Gas by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,378 shares of the company's stock valued at $386,000 after purchasing an additional 329 shares during the last quarter. Finally, Legato Capital Management LLC raised its position in shares of Northern Oil and Gas by 5.8% during the 4th quarter. Legato Capital Management LLC now owns 6,383 shares of the company's stock worth $237,000 after purchasing an additional 349 shares during the period. Institutional investors own 98.80% of the company's stock.

Analyst Upgrades and Downgrades

NOG has been the subject of several recent research reports. Piper Sandler lowered their price target on shares of Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday, January 29th. Capital One Financial lowered Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Bank of America lowered their price target on Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Citigroup reduced their price objective on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Finally, Morgan Stanley lowered their target price on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Northern Oil and Gas presently has a consensus rating of "Hold" and a consensus target price of $43.50.

Insider Buying and Selling

In other Northern Oil and Gas news, Director Bahram Akradi purchased 40,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the transaction, the director now owns 1,662,016 shares of the company's stock, valued at approximately $46,586,308.48. This represents a 2.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nicholas L. O'grady acquired 1,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $27.48 per share, with a total value of $27,480.00. Following the completion of the acquisition, the chief executive officer now owns 226,189 shares of the company's stock, valued at $6,215,673.72. This represents a 0.44 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.90% of the company's stock.

Northern Oil and Gas Price Performance

Shares of NOG traded down $0.04 during trading hours on Tuesday, hitting $24.76. 875,685 shares of the company were exchanged, compared to its average volume of 1,488,071. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31. The company has a market capitalization of $2.45 billion, a PE ratio of 4.81 and a beta of 1.49. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The firm has a fifty day simple moving average of $27.43 and a 200-day simple moving average of $34.79.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The company had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. As a group, sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas announced that its Board of Directors has initiated a stock repurchase program on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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.