Louisiana State Employees Retirement System Invests $1.70 Million in Northern Oil and Gas, Inc. (NYSE:NOG)

Louisiana State Employees Retirement System acquired a new position in Northern Oil and Gas, Inc. (NYSE:NOG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 45,800 shares of the company’s stock, valued at approximately $1,698,000.

Other hedge funds also recently made changes to their positions in the company. Captrust Financial Advisors grew its stake in shares of Northern Oil and Gas by 1,349.4% in the 2nd quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock worth $29,000 after purchasing an additional 1,066 shares during the last quarter. Quarry LP acquired a new position in shares of Northern Oil and Gas in the 2nd quarter worth approximately $31,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Northern Oil and Gas in the 3rd quarter worth approximately $67,000. State of Wyoming acquired a new position in shares of Northern Oil and Gas in the 4th quarter worth approximately $82,000. Finally, Covestor Ltd grew its stake in shares of Northern Oil and Gas by 44,860.0% in the 3rd quarter. Covestor Ltd now owns 2,248 shares of the company’s stock worth $90,000 after purchasing an additional 2,243 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Insider Activity at Northern Oil and Gas

In related news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total transaction of $153,675.00. Following the transaction, the chief executive officer now owns 228,082 shares of the company’s stock, valued at $9,346,800.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider James B. Evans sold 945 shares of Northern Oil and Gas stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the transaction, the insider now owns 83,872 shares of the company’s stock, valued at $3,187,136. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total transaction of $153,675.00. Following the completion of the transaction, the chief executive officer now directly owns 228,082 shares in the company, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,944 shares of company stock valued at $436,614. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NOG has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Northern Oil and Gas from $38.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday. Raymond James decreased their target price on shares of Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Stifel Nicolaus decreased their target price on shares of Northern Oil and Gas from $54.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Citigroup decreased their target price on shares of Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Finally, Truist Financial decreased their target price on shares of Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating for the company in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas has an average rating of “Moderate Buy” and an average target price of $47.00.

Northern Oil and Gas Stock Performance

NOG stock opened at $42.50 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market cap of $4.29 billion, a P/E ratio of 4.23 and a beta of 1.86. The firm has a 50 day simple moving average of $38.00 and a 200 day simple moving average of $37.18. Northern Oil and Gas, Inc. has a 52 week low of $29.57 and a 52 week high of $43.64.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.03). The company had revenue of $543.40 million for the quarter, compared to analyst estimates of $555.31 million. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.43 earnings per share. Research analysts anticipate that Northern Oil and Gas, Inc. will post 5.43 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Wednesday, March 27th. Northern Oil and Gas’s payout ratio is presently 15.94%.

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.