State of New Jersey Common Pension Fund D Increases Position in Northern Oil and Gas, Inc. $NOG

State of New Jersey Common Pension Fund D increased its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 20.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,173 shares of the company’s stock after purchasing an additional 12,062 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.07% of Northern Oil and Gas worth $1,989,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. American Century Companies Inc. increased its holdings in shares of Northern Oil and Gas by 6.4% in the 1st quarter. American Century Companies Inc. now owns 6,953,377 shares of the company’s stock valued at $210,201,000 after purchasing an additional 415,781 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Northern Oil and Gas by 30.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company’s stock valued at $129,939,000 after purchasing an additional 1,001,493 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Northern Oil and Gas by 25.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,951,505 shares of the company’s stock valued at $56,867,000 after purchasing an additional 397,128 shares in the last quarter. Channing Capital Management LLC increased its holdings in shares of Northern Oil and Gas by 8.7% in the 1st quarter. Channing Capital Management LLC now owns 1,920,258 shares of the company’s stock valued at $58,049,000 after purchasing an additional 153,635 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Northern Oil and Gas by 2.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,636,938 shares of the company’s stock valued at $49,485,000 after purchasing an additional 36,507 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Wall Street Analyst Weigh In

NOG has been the subject of several recent research reports. Royal Bank Of Canada dropped their target price on shares of Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Monday, July 14th. Piper Sandler restated a “neutral” rating and set a $25.00 target price (down from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. Morgan Stanley restated an “underweight” rating and set a $26.00 target price (down from $27.00) on shares of Northern Oil and Gas in a report on Tuesday, October 14th. Citigroup dropped their target price on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, October 20th. Finally, Mizuho dropped their target price on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.00.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock opened at $21.31 on Friday. Northern Oil and Gas, Inc. has a 12-month low of $19.88 and a 12-month high of $44.31. The stock has a market capitalization of $2.08 billion, a P/E ratio of 3.52 and a beta of 1.61. The firm’s 50-day moving average is $24.43 and its two-hundred day moving average is $26.26. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Monday, March 6th. The company reported $1.06 earnings per share (EPS) for the quarter. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The company had revenue of $319.19 million for the quarter. Equities analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

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.