New York State Teachers Retirement System Purchases 800 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

New York State Teachers Retirement System raised its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,664 shares of the company’s stock after purchasing an additional 800 shares during the quarter. 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 (SEC).

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. 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 objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Morgan Stanley set a $43.00 price target on Northern Oil and Gas in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada reduced their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. One equities research 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. According to data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Hold” and a consensus price target of $47.44.

Insider Buying and Selling at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $3,752,697. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.80% of the stock is owned by corporate insiders.

Northern Oil and Gas Stock Down 6.7 %

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

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $545.47 million for the quarter, compared to analysts’ expectations of $552.34 million. On average, research analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share 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. Shareholders of record on Friday, March 28th will be given a $0.45 dividend. The ex-dividend date is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 5.45%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 32.68%.

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.