Northern Oil and Gas, Inc. (NYSE:NOG) Holdings Raised by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,268 shares of the company’s stock after buying an additional 4,104 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Northern Oil and Gas worth $2,085,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its stake in Northern Oil and Gas by 137.7% during the 1st quarter. BlackRock Inc. now owns 10,915,028 shares of the company’s stock valued at $331,271,000 after acquiring an additional 6,322,462 shares in the last quarter. Vanguard Group Inc. grew its position in Northern Oil and Gas by 26.7% during the third quarter. Vanguard Group Inc. now owns 7,759,894 shares of the company’s stock valued at $312,181,000 after purchasing an additional 1,635,739 shares in the last quarter. Alliancebernstein L.P. increased its stake in Northern Oil and Gas by 1,356.2% in the 2nd quarter. Alliancebernstein L.P. now owns 979,729 shares of the company’s stock valued at $33,624,000 after buying an additional 912,449 shares during the period. State Street Corp lifted its position in Northern Oil and Gas by 29.0% in the 1st quarter. State Street Corp now owns 3,301,013 shares of the company’s stock worth $93,518,000 after buying an additional 742,371 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Northern Oil and Gas by 19.0% in the 3rd quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock worth $152,318,000 after buying an additional 605,197 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Up 1.8 %

Shares of Northern Oil and Gas stock opened at $41.48 on Friday. Northern Oil and Gas, Inc. has a 1 year low of $29.57 and a 1 year high of $43.64. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market capitalization of $4.21 billion, a P/E ratio of 4.13 and a beta of 1.86. The business has a 50-day moving average of $36.11 and a two-hundred day moving average of $37.00.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.03). The company had revenue of $543.40 million for the quarter, compared to analyst estimates of $555.31 million. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the business posted $1.43 earnings per share. As a group, equities analysts predict that Northern Oil and Gas, Inc. will post 5.57 EPS for the current year.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 15.94%.

Insider Transactions at Northern Oil and Gas

In related news, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $35.63, for a total transaction of $133,612.50. Following the completion of the transaction, the chief executive officer now owns 220,825 shares in the company, valued at $7,867,994.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $35.63, for a total value of $133,612.50. Following the sale, the chief executive officer now directly owns 220,825 shares of the company’s stock, valued at approximately $7,867,994.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James B. Evans sold 945 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the sale, the insider now owns 83,872 shares in the company, valued at approximately $3,187,136. The disclosure for this sale can be found here. Insiders sold 11,544 shares of company stock valued at $437,927 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Morgan Stanley lowered their target price on shares of Northern Oil and Gas from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Jefferies Financial Group boosted their price target on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Citigroup lowered their price objective on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Finally, Stifel Nicolaus reduced their target price on Northern Oil and Gas from $54.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and an average target price of $46.30.

Northern Oil and Gas Company 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.