Maryland State Retirement & Pension System Grows Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Maryland State Retirement & Pension System grew its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,358 shares of the company’s stock after purchasing an additional 2,521 shares during the period. Maryland State Retirement & Pension System’s holdings in Northern Oil and Gas were worth $1,237,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NOG. Private Advisor Group LLC increased its stake in Northern Oil and Gas by 4.8% during the 3rd quarter. Private Advisor Group LLC now owns 6,118 shares of the company’s stock worth $246,000 after buying an additional 282 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of Northern Oil and Gas by 1.3% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock worth $823,000 after acquiring an additional 290 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Northern Oil and Gas by 1.0% in the third quarter. PNC Financial Services Group Inc. now owns 29,761 shares of the company’s stock worth $1,197,000 after acquiring an additional 306 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in Northern Oil and Gas by 1.1% in the third quarter. Kestra Advisory Services LLC now owns 27,673 shares of the company’s stock valued at $1,113,000 after purchasing an additional 309 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Northern Oil and Gas by 3.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,197 shares of the company’s stock valued at $450,000 after purchasing an additional 332 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on NOG shares. Raymond James reduced their target price on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Morgan Stanley increased their price objective on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Truist Financial lifted their price target on Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Stifel Nicolaus upped their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.90.

Insider Buying and Selling at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 2,088 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $79,344.00. Following the completion of the transaction, the president now owns 122,359 shares of the company’s stock, valued at $4,649,642. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Adam A. Dirlam sold 2,088 shares of the 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 $79,344.00. Following the completion of the transaction, the president now directly owns 122,359 shares in the company, valued at $4,649,642. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $40.98, for a total value of $153,675.00. Following the sale, the chief executive officer now directly owns 228,082 shares in the company, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. Insiders have sold 10,944 shares of company stock valued at $436,614 in the last quarter. Corporate insiders own 2.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NOG opened at $40.41 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $4.08 billion, a P/E ratio of 6.55 and a beta of 1.84. Northern Oil and Gas, Inc. has a 12 month low of $29.57 and a 12 month high of $43.75. The stock has a fifty day moving average price of $39.94 and a 200 day moving average price of $37.34.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The business had revenue of $396.35 million for the quarter, compared to analysts’ expectations of $505.67 million. During the same quarter last year, the company earned $1.76 EPS. The company’s revenue for the quarter was down 31.9% compared to the same quarter last year. On average, research analysts forecast that Northern Oil and Gas, Inc. will post 5.46 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Thursday, June 27th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.96%. The ex-dividend date is Thursday, June 27th. Northern Oil and Gas’s dividend payout ratio is currently 25.93%.

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.