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

State of New Jersey Common Pension Fund D boosted its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 51,099 shares of the company’s stock after buying an additional 1,744 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Northern Oil and Gas were worth $1,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in Northern Oil and Gas in the third quarter valued at $25,000. Signaturefd LLC lifted its position in shares of Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after acquiring an additional 427 shares during the period. Blue Trust Inc. lifted its position in shares of Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after acquiring an additional 801 shares during the period. Avior Wealth Management LLC increased its position in shares of Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after buying an additional 259 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after buying an additional 1,048 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research report on Monday, December 16th. Royal Bank of Canada lowered their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Capital One Financial lowered shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday. Truist Financial boosted their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Morgan Stanley set a $43.00 price target on Northern Oil and Gas in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $47.44.

Insider Activity

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the transaction, the president now owns 96,223 shares of the company’s stock, valued at $3,752,697. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

Northern Oil and Gas Stock Up 0.9 %

NOG stock opened at $33.30 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. Northern Oil and Gas, Inc. has a 1-year low of $32.81 and a 1-year high of $44.31. The firm has a fifty day moving average price of $37.47 and a two-hundred day moving average price of $38.29. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 6.48 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The company had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. Research analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid a $0.45 dividend. The ex-dividend date is Friday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 5.41%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s payout ratio is currently 32.68%.

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.