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

State of New Jersey Common Pension Fund D lifted its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,099 shares of the company’s stock after buying an additional 1,744 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.05% of Northern Oil and Gas worth $1,899,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NOG. Geode Capital Management LLC raised its holdings in Northern Oil and Gas by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock valued at $80,884,000 after acquiring an additional 100,761 shares during the period. Copeland Capital Management LLC increased its holdings in Northern Oil and Gas by 0.9% in the 4th quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company’s stock valued at $78,590,000 after acquiring an additional 18,195 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Northern Oil and Gas by 1.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,381,285 shares of the company’s stock worth $52,102,000 after purchasing an additional 21,754 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Northern Oil and Gas by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock worth $34,902,000 after purchasing an additional 103,314 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of Northern Oil and Gas by 41.4% during the 3rd quarter. New York State Common Retirement Fund now owns 940,987 shares of the company’s stock valued at $33,320,000 after purchasing an additional 275,704 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NOG. Morgan Stanley set a $43.00 price target on shares of Northern Oil and Gas in a report on Wednesday, January 22nd. Piper Sandler cut their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. 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. Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a research note on Monday, December 16th. Finally, Truist Financial upped their price objective on 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average 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 Northern Oil and Gas stock in a transaction on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now directly owns 96,223 shares in the company, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Stock Up 0.9 %

NYSE NOG opened at $33.30 on Tuesday. Northern Oil and Gas, Inc. has a one year low of $32.81 and a one year high of $44.31. The company has a market cap of $3.32 billion, a P/E ratio of 6.48 and a beta of 1.81. The business has a fifty day moving average price of $37.47 and a 200 day moving average price of $38.29. 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 results 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 net margin of 23.38% and a return on equity of 24.41%. The firm had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. Research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently announced 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 of this dividend is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 5.41%. This is an increase 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.