Northern Oil and Gas, Inc. (NYSE:NOG) Stock Position Lifted by New York State Teachers Retirement System

New York State Teachers Retirement System increased its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 1.7% during the 4th quarter, HoldingsChannel reports. The firm owned 46,664 shares of the company’s stock after acquiring an additional 800 shares during the period. New York State Teachers Retirement System’s holdings in Northern Oil and Gas were worth $1,734,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC bought a new stake in shares of Northern Oil and Gas during the 3rd quarter worth $828,000. State of Alaska Department of Revenue boosted its position in Northern Oil and Gas by 36.1% during the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company’s stock valued at $2,877,000 after purchasing an additional 20,550 shares during the last quarter. Heritage Family Offices LLP bought a new position in Northern Oil and Gas during the fourth quarter valued at about $244,000. Tributary Capital Management LLC raised its holdings in Northern Oil and Gas by 11.8% during the fourth quarter. Tributary Capital Management LLC now owns 588,487 shares of the company’s stock valued at $21,868,000 after buying an additional 62,300 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Northern Oil and Gas by 21.0% during the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock valued at $79,000 after buying an additional 368 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, the president now directly owns 96,223 shares of the company’s stock, valued at $3,752,697. This represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Price Performance

NOG stock opened at $33.01 on Friday. The company has a fifty day moving average price of $37.47 and a 200-day moving average price of $38.27. Northern Oil and Gas, Inc. has a 52-week low of $32.81 and a 52-week high of $44.31. The company has a market capitalization of $3.29 billion, a P/E ratio of 6.42 and a beta of 1.81. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data 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 business 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 23.38% and a return on equity of 24.41%. As a group, equities analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS 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. Investors of record on Friday, March 28th will be given a $0.45 dividend. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio is presently 32.68%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NOG. Morgan Stanley set a $43.00 price target on Northern Oil and Gas in a research note on Wednesday, January 22nd. Royal Bank of Canada decreased their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Monday, December 16th. Truist Financial boosted their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Piper Sandler reduced their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $47.44.

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.