Wesbanco Bank Inc. Lowers Stock Position in Northern Oil and Gas, Inc. $NOG

Wesbanco Bank Inc. trimmed its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 58.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 22,000 shares of the company’s stock after selling 30,500 shares during the period. Wesbanco Bank Inc.’s holdings in Northern Oil and Gas were worth $546,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its holdings in Northern Oil and Gas by 10.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 485,091 shares of the company’s stock valued at $12,030,000 after purchasing an additional 44,680 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Northern Oil and Gas by 238.6% in the third quarter. Hantz Financial Services Inc. now owns 5,841 shares of the company’s stock valued at $145,000 after buying an additional 4,116 shares in the last quarter. Summit Global Investments purchased a new stake in shares of Northern Oil and Gas in the 3rd quarter valued at $220,000. EFG Asset Management North America Corp. lifted its stake in Northern Oil and Gas by 1.2% during the 3rd quarter. EFG Asset Management North America Corp. now owns 116,879 shares of the company’s stock worth $2,897,000 after acquiring an additional 1,343 shares in the last quarter. Finally, Oxbow Advisors LLC boosted its holdings in Northern Oil and Gas by 0.9% during the 3rd quarter. Oxbow Advisors LLC now owns 219,949 shares of the company’s stock valued at $5,455,000 after acquiring an additional 2,018 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $26.59 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.05. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $36.16. The firm’s 50 day moving average is $23.02 and its two-hundred day moving average is $23.66. The firm has a market capitalization of $2.60 billion, a P/E ratio of 15.02 and a beta of 1.01.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NOG. 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 on the stock in a research note on Tuesday, January 20th. Mizuho set a $29.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, January 21st. Citigroup dropped their price target on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating for the company 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 Thursday, January 22nd. Finally, Morgan Stanley set a $24.00 target price on Northern Oil and Gas and gave the company an “underweight” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.