State of Alaska Department of Revenue Has $2.88 Million Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

State of Alaska Department of Revenue boosted its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 36.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,439 shares of the company's stock after purchasing an additional 20,550 shares during the quarter. State of Alaska Department of Revenue owned about 0.08% of Northern Oil and Gas worth $2,877,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in Northern Oil and Gas by 0.7% during the 4th quarter. Jennison Associates LLC now owns 524,545 shares of the company's stock worth $19,492,000 after purchasing an additional 3,430 shares during the last quarter. Copeland Capital Management LLC raised its holdings in Northern Oil and Gas by 0.9% during the 4th quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company's stock worth $78,590,000 after purchasing an additional 18,195 shares during the last quarter. Abel Hall LLC bought a new stake in Northern Oil and Gas during the 4th quarter worth about $206,000. Blue Trust Inc. raised its holdings in Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock worth $44,000 after purchasing an additional 801 shares during the last quarter. Finally, Tributary Capital Management LLC raised its holdings in Northern Oil and Gas by 11.8% during the 4th 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. 98.80% of the stock is owned by institutional investors.

Insider Activity at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now directly owns 96,223 shares in the company, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by insiders.

Northern Oil and Gas Stock Down 1.7 %

Shares of NOG traded down $0.61 on Thursday, hitting $34.51. The company's stock had a trading volume of 2,041,192 shares, compared to its average volume of 1,364,424. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. The firm's fifty day moving average price is $38.31 and its 200-day moving average price is $38.52. Northern Oil and Gas, Inc. has a fifty-two week low of $32.35 and a fifty-two week high of $44.31. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 4.14 and a beta of 1.81.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 5.22%. Northern Oil and Gas's payout ratio is currently 20.17%.

Wall Street Analysts Forecast Growth

NOG has been the subject of several recent research reports. Truist Financial boosted their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Piper Sandler lowered their price target on Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday, January 29th. Mizuho cut Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price target for the company. in a research note on Monday, December 16th. Finally, Royal Bank of Canada lowered their price target on Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $47.00.

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.