New York State Common Retirement Fund Raises Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

New York State Common Retirement Fund raised its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 13.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,071,966 shares of the company’s stock after buying an additional 130,979 shares during the quarter. New York State Common Retirement Fund owned approximately 1.07% of Northern Oil and Gas worth $39,834,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in Northern Oil and Gas in the 3rd quarter valued at $25,000. Signaturefd LLC lifted its stake in shares of Northern Oil and Gas by 100.5% in the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after purchasing an additional 801 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Northern Oil and Gas by 23.3% in the 4th 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. Finally, Covestor Ltd lifted its stake in shares of Northern Oil and Gas by 122.6% in the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock valued at $67,000 after purchasing an additional 1,048 shares during the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the transaction, the president now owns 96,223 shares in the company, valued at approximately $3,752,697. This represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NOG has been the topic of several recent analyst reports. Mizuho lowered Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research note on Monday, December 16th. Piper Sandler decreased their price target on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Royal Bank of Canada decreased their price target on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Finally, Truist Financial upped their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $47.00.

Northern Oil and Gas Price Performance

NOG opened at $35.48 on Friday. The stock’s 50-day moving average price is $37.62 and its 200 day moving average price is $38.30. Northern Oil and Gas, Inc. has a 12-month low of $33.17 and a 12-month high of $44.31. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 4.26 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). The company had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. As a group, sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.27 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be given a $0.45 dividend. The ex-dividend date is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 5.07%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 20.17%.

Northern Oil and Gas Profile

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.