New York State Common Retirement Fund Has $39.83 Million Stock Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

New York State Common Retirement Fund boosted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 13.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,071,966 shares of the company's stock after purchasing an additional 130,979 shares during the period. New York State Common Retirement Fund owned about 1.07% of Northern Oil and Gas worth $39,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Icon Wealth Advisors LLC acquired a new position in Northern Oil and Gas in the 3rd quarter valued at about $828,000. State of Alaska Department of Revenue grew its holdings in Northern Oil and Gas by 36.1% during the 4th quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company's stock worth $2,877,000 after acquiring an additional 20,550 shares in the last quarter. James Investment Research Inc. purchased a new stake in shares of Northern Oil and Gas during the 4th quarter worth $393,000. Heritage Family Offices LLP acquired a new position in shares of Northern Oil and Gas during the 4th quarter worth about $244,000. Finally, Tributary Capital Management LLC lifted its stake in Northern Oil and Gas by 11.8% during the fourth quarter. Tributary Capital Management LLC now owns 588,487 shares of the company's stock worth $21,868,000 after purchasing an additional 62,300 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

Insiders Place Their Bets

In related news, President Adam A. Dirlam sold 836 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the sale, the president now directly owns 96,223 shares in the company, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on NOG. Capital One Financial cut Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday. Truist Financial lifted their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Piper Sandler cut their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday, January 29th. Mizuho downgraded Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 target price for the company. in a research note on Monday, December 16th. Finally, Royal Bank of Canada decreased their price target on Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $47.00.

Northern Oil and Gas Price Performance

Shares of NOG stock traded down $2.38 during trading hours on Friday, hitting $33.01. The company's stock had a trading volume of 2,751,072 shares, compared to its average volume of 1,432,546. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average of $37.62 and a 200-day moving average of $38.30. Northern Oil and Gas, Inc. has a twelve month low of $32.81 and a twelve month high of $44.31. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 6.42 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.16). The company had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.96%. As a group, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.25 EPS for the current year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 5.45%. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's dividend payout ratio (DPR) is presently 32.68%.

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.