Northern Oil and Gas, Inc. (NYSE:NOG) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 660,120 shares of the company’s stock after purchasing an additional 24,038 shares during the quarter. New York State Common Retirement Fund owned approximately 0.66% of Northern Oil and Gas worth $24,471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Private Advisor Group LLC increased its stake in Northern Oil and Gas by 4.8% in the third quarter. Private Advisor Group LLC now owns 6,118 shares of the company’s stock valued at $246,000 after purchasing an additional 282 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Northern Oil and Gas by 1.3% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock worth $823,000 after acquiring an additional 290 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Northern Oil and Gas by 1.0% during the third quarter. PNC Financial Services Group Inc. now owns 29,761 shares of the company’s stock worth $1,197,000 after acquiring an additional 306 shares during the last quarter. Kestra Advisory Services LLC increased its stake in Northern Oil and Gas by 1.1% during the third quarter. Kestra Advisory Services LLC now owns 27,673 shares of the company’s stock worth $1,113,000 after acquiring an additional 309 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Northern Oil and Gas by 3.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 11,197 shares of the company’s stock worth $450,000 after acquiring an additional 332 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Up 0.4 %

Shares of NOG opened at $43.25 on Friday. The company has a market capitalization of $4.37 billion, a P/E ratio of 4.31 and a beta of 1.86. Northern Oil and Gas, Inc. has a one year low of $29.57 and a one year high of $43.64. 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 50-day moving average price of $38.96 and a 200 day moving average price of $37.33.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). The business had revenue of $543.40 million during the quarter, compared to analysts’ expectations of $555.31 million. Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 EPS. Sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.53 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio is currently 15.94%.

Insider Activity at Northern Oil and Gas

In related news, insider James B. Evans sold 945 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the transaction, the insider now owns 83,872 shares of the company’s stock, valued at $3,187,136. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the transaction, the insider now owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider James B. Evans sold 3,150 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the transaction, the insider now directly owns 73,753 shares in the company, valued at approximately $3,097,626. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,944 shares of company stock valued at $436,614. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

NOG has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Truist Financial dropped their price target on Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Stifel Nicolaus upped their price target on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Sandler upped their target price on Northern Oil and Gas from $38.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, April 19th. Finally, StockNews.com raised Northern Oil and Gas from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Northern Oil and Gas presently has an average rating of “Moderate Buy” and a consensus price target of $47.30.

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.