Public Sector Pension Investment Board Acquires 14,237 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Public Sector Pension Investment Board lifted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 7.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 201,331 shares of the company’s stock after purchasing an additional 14,237 shares during the quarter. Public Sector Pension Investment Board owned about 0.20% of Northern Oil and Gas worth $7,483,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. GAMMA Investing LLC lifted its stake in Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after buying an additional 528 shares in the last quarter. TFO Wealth Partners LLC lifted its position in Northern Oil and Gas by 112,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after acquiring an additional 1,121 shares in the last quarter. Fifth Third Bancorp lifted its position in Northern Oil and Gas by 88.2% in the 2nd quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock valued at $82,000 after acquiring an additional 1,033 shares in the last quarter. Assetmark Inc. boosted its stake in Northern Oil and Gas by 27.5% in the 4th quarter. Assetmark Inc. now owns 3,902 shares of the company’s stock worth $145,000 after purchasing an additional 841 shares during the period. Finally, Marks Group Wealth Management Inc bought a new position in Northern Oil and Gas during the 1st quarter worth about $215,000. 98.80% of the stock is owned by institutional investors.

Insider Transactions at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.88, for a total value of $52,728.96. Following the sale, the president now owns 107,628 shares in the company, valued at approximately $4,076,948.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the completion of the sale, the chief executive officer now owns 224,332 shares in the company, valued at approximately $8,526,859.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $37.88, for a total transaction of $52,728.96. Following the completion of the transaction, the president now owns 107,628 shares in the company, valued at approximately $4,076,948.64. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NOG. Truist Financial boosted their price target on Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley cut their target price on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Bank of America raised their price target on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $47.70.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $37.40 on Wednesday. The company has a fifty day moving average price of $38.22 and a two-hundred day moving average price of $39.16. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $43.80. The stock has a market cap of $3.75 billion, a P/E ratio of 6.06 and a beta of 1.81. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The business had revenue of $560.80 million during the quarter, compared to the consensus estimate of $542.28 million. During the same period last year, the business posted $1.49 EPS. Northern Oil and Gas’s revenue was up 17.7% on a year-over-year basis. As a group, equities analysts predict that Northern Oil and Gas, Inc. will post 5.29 EPS for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.42 per share. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Friday, September 27th. Northern Oil and Gas’s payout ratio is currently 25.93%.

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.