Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 4.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,355 shares of the company’s stock after selling 2,349 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Northern Oil and Gas were worth $1,748,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Covestor Ltd increased its stake in Northern Oil and Gas by 122.6% in 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 period. Easterly Investment Partners LLC increased its position in Northern Oil and Gas by 0.8% in the 3rd quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock valued at $1,792,000 after acquiring an additional 380 shares during the period. Heritage Wealth Management Inc. raised its stake in Northern Oil and Gas by 11.4% during the 3rd quarter. Heritage Wealth Management Inc. now owns 27,460 shares of the company’s stock valued at $972,000 after acquiring an additional 2,800 shares during the last quarter. Verity Asset Management Inc. lifted its position in Northern Oil and Gas by 9.3% during the 3rd quarter. Verity Asset Management Inc. now owns 13,335 shares of the company’s stock worth $472,000 after acquiring an additional 1,130 shares during the period. Finally, Amalgamated Bank grew its stake in shares of Northern Oil and Gas by 3.9% in the 3rd quarter. Amalgamated Bank now owns 29,290 shares of the company’s stock valued at $1,037,000 after purchasing an additional 1,108 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $41.25 on Tuesday. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 4.95 and a beta of 1.80. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The business’s 50 day simple moving average is $37.51 and its 200-day simple moving average is $38.49. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $43.80.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. Northern Oil and Gas’s quarterly revenue was up 140.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 earnings per share. As a group, equities analysts forecast that Northern Oil and Gas, Inc. will post 5.38 earnings per share for the current fiscal year.

Insider Activity at Northern Oil and Gas

In other news, insider Erik J. Romslo sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the sale, the insider now directly owns 105,713 shares in the company, valued at $3,727,440.38. This represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the transaction, the president now directly owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This trade represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,508 shares of company stock valued at $248,113. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on NOG. Piper Sandler upped their price target on Northern Oil and Gas from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday. Truist Financial raised their target price on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Mizuho began coverage on shares of Northern Oil and Gas in a research note on Thursday, September 19th. They set an “outperform” rating and a $47.00 price target on the stock. Morgan Stanley reduced their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, StockNews.com cut Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.60.

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.