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BNP Paribas Arbitrage SA Trims Stake in Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG)

By August 24, 2019 No Comments

BNP Paribas Arbitrage SA reduced its holdings in shares of Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) by 8.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 196,710 shares of the energy company’s stock after selling 18,754 shares during the period. BNP Paribas Arbitrage SA owned about 0.05% of Northern Oil & Gas worth $380,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. First Trust Advisors LP boosted its position in shares of Northern Oil & Gas by 168.9% in the second quarter. First Trust Advisors LP now owns 440,024 shares of the energy company’s stock worth $849,000 after purchasing an additional 276,384 shares during the period. Fisher Asset Management LLC boosted its position in shares of Northern Oil & Gas by 15.0% in the second quarter. Fisher Asset Management LLC now owns 508,595 shares of the energy company’s stock worth $982,000 after purchasing an additional 66,487 shares during the period. SG Americas Securities LLC boosted its position in shares of Northern Oil & Gas by 96.0% in the second quarter. SG Americas Securities LLC now owns 89,699 shares of the energy company’s stock worth $173,000 after purchasing an additional 43,929 shares during the period. NJ State Employees Deferred Compensation Plan boosted its position in shares of Northern Oil & Gas by 40.0% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 140,000 shares of the energy company’s stock worth $270,000 after purchasing an additional 40,000 shares during the period. Finally, AdvisorNet Financial Inc boosted its position in shares of Northern Oil & Gas by 44.2% in the second quarter. AdvisorNet Financial Inc now owns 115,896 shares of the energy company’s stock worth $224,000 after purchasing an additional 35,500 shares during the period.

In other Northern Oil & Gas news, major shareholder Robert B. Rowling acquired 1,000,060 shares of the stock in a transaction on Tuesday, May 28th. The stock was acquired at an average price of $2.06 per share, for a total transaction of $2,060,123.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Robert B. Rowling acquired 1,508,382 shares of the stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $1.55 per share, with a total value of $2,337,992.10. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 3,493,542 shares of company stock valued at $5,974,276.

Shares of NYSEAMERICAN:NOG opened at $1.68 on Friday. Northern Oil & Gas, Inc. has a fifty-two week low of $1.40 and a fifty-two week high of $4.49.

Northern Oil & Gas (NYSEAMERICAN:NOG) last issued its earnings results on Thursday, August 1st. The energy company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. The company had revenue of $186.44 million for the quarter, compared to the consensus estimate of $153.11 million.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Northern Oil & Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Northland Securities set a $5.00 target price on shares of Northern Oil & Gas and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Northern Oil & Gas has an average rating of “Buy” and a consensus price target of $3.88.

About Northern Oil & 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. The company primarily holds interests in the Bakken and Three Forks formations in the Williston Basin of North Dakota and Montana.

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Institutional Ownership by Quarter for Northern Oil & Gas (NYSEAMERICAN:NOG)

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