Northern Oil and Gas, Inc. (NYSE:NOG) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,424 shares of the company’s stock after acquiring an additional 1,681 shares during the period. Teacher Retirement System of Texas’ holdings in Northern Oil and Gas were worth $572,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Principal Securities Inc. acquired a new position in shares of Northern Oil and Gas during the 4th quarter worth $42,000. SRS Capital Advisors Inc. boosted its holdings in Northern Oil and Gas by 305.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after buying an additional 927 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Northern Oil and Gas during the third quarter worth about $67,000. Covestor Ltd increased its holdings in Northern Oil and Gas by 44,860.0% in the third quarter. Covestor Ltd now owns 2,248 shares of the company’s stock valued at $90,000 after buying an additional 2,243 shares in the last quarter. Finally, Hanseatic Management Services Inc. acquired a new stake in shares of Northern Oil and Gas during the 3rd quarter valued at approximately $159,000. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $39.55 on Friday. The stock has a fifty day moving average price of $40.80 and a 200 day moving average price of $37.49. Northern Oil and Gas, Inc. has a 52 week low of $29.57 and a 52 week high of $43.75. The firm has a market capitalization of $4.00 billion, a P/E ratio of 6.41 and a beta of 1.84. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, beating 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 company had revenue of $396.35 million during the quarter, compared to the consensus estimate of $505.67 million. During the same quarter in the prior year, the company posted $1.76 EPS. The company’s quarterly revenue was down 31.9% compared to the same quarter last year. Equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.14 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Thursday, June 27th will be issued a $0.40 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.05%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 25.93%.

Insider Activity

In related news, insider James B. Evans sold 945 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 $35,910.00. Following the transaction, the insider now directly owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider James B. Evans sold 945 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the sale, the insider now owns 83,872 shares in the company, valued at approximately $3,187,136. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Adam A. Dirlam sold 2,088 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $79,344.00. Following the completion of the transaction, the president now owns 122,359 shares in the company, valued at approximately $4,649,642. The disclosure for this sale can be found here. Insiders sold 9,933 shares of company stock valued at $401,229 in the last ninety days. Company insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NOG shares. Piper Sandler raised their price objective on Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. StockNews.com upgraded Northern Oil and Gas from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Jefferies Financial Group boosted their price objective on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Stifel Nicolaus raised their target price on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Finally, Morgan Stanley upped their price target on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.00.

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.