New York State Common Retirement Fund Has $24.47 Million Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

New York State Common Retirement Fund increased its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 3.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 660,120 shares of the company’s stock after acquiring an additional 24,038 shares during the quarter. New York State Common Retirement Fund’s holdings in Northern Oil and Gas were worth $24,471,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Northern Oil and Gas by 26.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,759,894 shares of the company’s stock worth $312,181,000 after buying an additional 1,635,739 shares during the period. Invesco Ltd. increased its holdings in Northern Oil and Gas by 19.0% during the 3rd quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock worth $152,318,000 after purchasing an additional 605,197 shares in the last quarter. American Century Companies Inc. increased its holdings in Northern Oil and Gas by 27.0% during the 3rd quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock worth $103,085,000 after purchasing an additional 545,297 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Northern Oil and Gas by 13.8% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,445,517 shares of the company’s stock worth $58,153,000 after purchasing an additional 175,000 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in Northern Oil and Gas by 7.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,406,271 shares of the company’s stock worth $56,574,000 after purchasing an additional 98,613 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Trading Up 0.4 %

Shares of NYSE:NOG opened at $43.25 on Friday. Northern Oil and Gas, Inc. has a 52-week low of $29.57 and a 52-week high of $43.64. The company has a market capitalization of $4.37 billion, a P/E ratio of 4.31 and a beta of 1.86. The company has a 50-day simple moving average of $38.96 and a 200 day simple moving average of $37.33. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.32 and a current ratio of 1.32.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.03). Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The firm had revenue of $543.40 million during the quarter, compared to analyst estimates of $555.31 million. During the same quarter last year, the business posted $1.43 earnings per share. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. Sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.53 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.60 annualized dividend and a yield of 3.70%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 15.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NOG shares. Bank of America cut Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 target price for the company. in a report on Friday, January 5th. Piper Sandler increased their target price on Northern Oil and Gas from $38.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Jefferies Financial Group raised their price objective on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Finally, StockNews.com upgraded Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas has an average rating of “Moderate Buy” and a consensus price target of $47.30.

Insiders Place Their Bets

In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of the firm’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 transaction of $35,910.00. Following the completion of the sale, the insider now directly owns 83,872 shares in the company, valued at $3,187,136. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of the firm’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 transaction of $35,910.00. Following the completion of the sale, the insider now directly owns 83,872 shares in the company, valued at $3,187,136. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Adam A. Dirlam sold 2,088 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the sale, the president now owns 122,359 shares of the company’s stock, valued at $4,649,642. The disclosure for this sale can be found here. Insiders sold 10,944 shares of company stock worth $436,614 over the last three months. Insiders own 2.80% of the company’s stock.

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.