Northern Oil and Gas, Inc. (NYSE:NOG) Shares Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio grew its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 21.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 100,140 shares of the company's stock after purchasing an additional 17,383 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.10% of Northern Oil and Gas worth $3,546,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in shares of Northern Oil and Gas in the 3rd quarter valued at $25,000. Signaturefd LLC grew its position in Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company's stock worth $30,000 after purchasing an additional 427 shares during the last quarter. Quarry LP increased its stake in Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company's stock valued at $42,000 after purchasing an additional 874 shares during the period. GAMMA Investing LLC raised its holdings in shares of Northern Oil and Gas by 58.6% in the third quarter. GAMMA Investing LLC now owns 1,752 shares of the company's stock valued at $62,000 after buying an additional 647 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Northern Oil and Gas by 122.6% during the third quarter. Covestor Ltd now owns 1,903 shares of the company's stock worth $67,000 after buying an additional 1,048 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

Insider Activity

In related news, insider Erik J. Romslo sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $52,890.00. Following the transaction, the insider now owns 105,713 shares of the company's stock, valued at approximately $3,727,440.38. This represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the firm's stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the sale, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,508 shares of company stock worth $248,113 over the last three months. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on NOG. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They set a "buy" rating and a $53.00 price objective for the company. Morgan Stanley cut their price target on Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating for the company in a research note on Monday, September 16th. Mizuho downgraded Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price target for the company. in a report on Monday. Piper Sandler boosted their price objective on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a "neutral" rating in a research note on Monday, November 18th. Finally, Royal Bank of Canada downgraded shares of Northern Oil and Gas from an "outperform" rating to a "sector perform" rating and upped their price objective for the stock from $43.00 to $45.00 in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $47.60.

Northern Oil and Gas Price Performance

NYSE:NOG traded down $1.45 during mid-day trading on Monday, hitting $39.26. 1,458,969 shares of the company's stock traded hands, compared to its average volume of 1,303,223. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $3.92 billion, a PE ratio of 4.89 and a beta of 1.85. The firm's 50 day simple moving average is $39.92 and its 200 day simple moving average is $38.76. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business had revenue of $753.64 million during the quarter, compared to analysts' expectations of $540.23 million. During the same period last year, the company posted $1.73 EPS. The company's revenue was up 140.0% on a year-over-year basis. Sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.4 EPS for the current year.

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a $0.42 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 annualized dividend and a dividend yield of 4.28%. Northern Oil and Gas's dividend payout ratio is currently 20.17%.

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.