New York State Common Retirement Fund Grows Position in Northern Oil and Gas, Inc. (NYSE:NOG)

New York State Common Retirement Fund increased its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 13.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,071,966 shares of the company’s stock after buying an additional 130,979 shares during the quarter. New York State Common Retirement Fund’s holdings in Northern Oil and Gas were worth $39,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its stake in Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after buying an additional 259 shares during the last quarter. Legato Capital Management LLC lifted its position in Northern Oil and Gas by 5.8% during the 4th quarter. Legato Capital Management LLC now owns 6,383 shares of the company’s stock worth $237,000 after acquiring an additional 349 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Northern Oil and Gas by 1.5% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,201 shares of the company’s stock worth $822,000 after acquiring an additional 350 shares during the period. GAMMA Investing LLC lifted its position in Northern Oil and Gas by 21.0% during the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock worth $79,000 after acquiring an additional 368 shares during the period. Finally, Easterly Investment Partners LLC lifted its position in Northern Oil and Gas by 0.8% during the 3rd quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock worth $1,792,000 after acquiring an additional 380 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NOG. Truist Financial increased their price objective 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. Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research report on Monday, December 16th. Piper Sandler decreased their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada decreased their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Northern Oil and Gas has an average rating of “Hold” and a consensus target price of $47.00.

Insider Buying and Selling

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 transaction of $32,604.00. Following the completion of the transaction, the president now directly owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by insiders.

Northern Oil and Gas Stock Up 0.2 %

NOG opened at $35.48 on Friday. 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 has a 50 day simple moving average of $37.62 and a 200-day simple moving average of $38.30. The stock has a market capitalization of $3.54 billion, a P/E ratio of 4.26 and a beta of 1.81. Northern Oil and Gas, Inc. has a 12 month low of $33.17 and a 12 month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.16). The business had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. On average, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.27 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 5.07%. Northern Oil and Gas’s payout ratio is currently 20.17%.

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.