State of New Jersey Common Pension Fund D Increases Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

State of New Jersey Common Pension Fund D boosted its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 11.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,362 shares of the company’s stock after acquiring an additional 7,116 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.07% of Northern Oil and Gas worth $2,497,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NOG. DekaBank Deutsche Girozentrale acquired a new position in shares of Northern Oil and Gas in the third quarter worth about $67,000. Covestor Ltd boosted its stake in shares of Northern Oil and Gas by 44,860.0% during the 3rd quarter. Covestor Ltd now owns 2,248 shares of the company’s stock valued at $90,000 after buying an additional 2,243 shares during the last quarter. Assetmark Inc. grew its position in shares of Northern Oil and Gas by 14.2% during the third quarter. Assetmark Inc. now owns 3,061 shares of the company’s stock worth $123,000 after buying an additional 380 shares in the last quarter. Hanseatic Management Services Inc. bought a new stake in shares of Northern Oil and Gas in the third quarter worth $159,000. Finally, Commonwealth Equity Services LLC acquired a new stake in Northern Oil and Gas in the third quarter valued at $209,000. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Insider Activity

In related news, President Adam A. Dirlam sold 2,088 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $79,344.00. Following the completion of the sale, the president now directly owns 122,359 shares of the company’s stock, valued at $4,649,642. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, President Adam A. Dirlam sold 2,088 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $79,344.00. Following the completion of the transaction, the president now owns 122,359 shares in the company, valued at approximately $4,649,642. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James B. Evans sold 945 shares of the business’s 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 sale, the insider now owns 83,872 shares in the company, valued at approximately $3,187,136. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,944 shares of company stock worth $436,614. Corporate insiders own 2.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $39.67 on Thursday. The firm’s 50-day simple moving average is $39.38 and its 200 day simple moving average is $37.35. The stock has a market cap of $4.01 billion, a P/E ratio of 3.95 and a beta of 1.86. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.90. Northern Oil and Gas, Inc. has a fifty-two week low of $29.57 and a fifty-two week high of $43.75.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. The business had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The business’s revenue for the quarter was down 31.9% on a year-over-year basis. During the same quarter last year, the business earned $1.76 earnings per share. Equities analysts expect that Northern Oil and Gas, Inc. will post 5.53 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend was Wednesday, March 27th. Northern Oil and Gas’s payout ratio is 15.94%.

Analyst Ratings Changes

NOG has been the topic of a number of recent analyst reports. Raymond James cut their target price on shares of Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Piper Sandler lifted 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. Bank of America lowered Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price target on the stock. in a research report on Friday, January 5th. Morgan Stanley boosted their target price on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Truist Financial lifted their price target on shares of Northern Oil and Gas from $55.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.40.

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.