State of New Jersey Common Pension Fund D Purchases 7,116 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

State of New Jersey Common Pension Fund D grew its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,362 shares of the company’s stock after purchasing an additional 7,116 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Northern Oil and Gas were worth $2,497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOG. DekaBank Deutsche Girozentrale bought a new position in Northern Oil and Gas during the third quarter worth about $67,000. Covestor Ltd grew its position in shares of Northern Oil and Gas by 44,860.0% in the 3rd quarter. Covestor Ltd now owns 2,248 shares of the company’s stock valued at $90,000 after purchasing an additional 2,243 shares during the period. Assetmark Inc. increased its stake in Northern Oil and Gas by 14.2% during the 3rd quarter. Assetmark Inc. now owns 3,061 shares of the company’s stock worth $123,000 after purchasing an additional 380 shares in the last quarter. Hanseatic Management Services Inc. bought a new position in Northern Oil and Gas in the third quarter valued at approximately $159,000. Finally, Commonwealth Equity Services LLC bought a new position in Northern Oil and Gas in the third quarter valued at approximately $209,000. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Price Performance

Shares of NOG opened at $39.67 on Thursday. The firm has a market capitalization of $4.01 billion, a PE ratio of 3.95 and a beta of 1.86. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.32. Northern Oil and Gas, Inc. has a fifty-two week low of $29.57 and a fifty-two week high of $43.75. The company’s 50-day moving average is $39.38 and its 200-day moving average is $37.35.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.10. The business had revenue of $396.35 million during the quarter, compared to the consensus estimate of $505.67 million. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The firm’s quarterly revenue was down 31.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.76 EPS. Equities analysts forecast that Northern Oil and Gas, Inc. will post 5.53 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is 15.94%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group lifted their target price on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Truist Financial increased their target price on shares of Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Bank of America downgraded shares of Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price objective for the company. in a research note on Friday, January 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.40.

Insider Buying and Selling at Northern Oil and Gas

In related news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total value of $153,675.00. Following the completion of the sale, the chief executive officer now directly owns 228,082 shares in the company, valued at $9,346,800.36. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider James B. Evans sold 3,150 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the sale, the insider now owns 73,753 shares in the company, valued at approximately $3,097,626. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total transaction of $153,675.00. Following the transaction, the chief executive officer now owns 228,082 shares of the company’s stock, valued at $9,346,800.36. The disclosure for this sale can be found here. Insiders sold 10,944 shares of company stock valued at $436,614 in the last quarter. Company insiders own 2.80% of the company’s stock.

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.