Maryland State Retirement & Pension System Has $1.39 Million Holdings in Northern Oil and Gas, Inc. (NYSE:NOG)

Maryland State Retirement & Pension System cut its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 1.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,890 shares of the company’s stock after selling 468 shares during the period. Maryland State Retirement & Pension System’s holdings in Northern Oil and Gas were worth $1,390,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NOG. Mariner LLC raised its position in Northern Oil and Gas by 2.7% in the third quarter. Mariner LLC now owns 19,828 shares of the company’s stock valued at $798,000 after purchasing an additional 515 shares during the last quarter. Alpine Global Management LLC bought a new stake in Northern Oil and Gas during the third quarter worth $603,000. AQR Capital Management LLC boosted its holdings in shares of Northern Oil and Gas by 112.5% in the 3rd quarter. AQR Capital Management LLC now owns 121,235 shares of the company’s stock worth $4,877,000 after buying an additional 64,183 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Northern Oil and Gas by 38.6% in the 3rd quarter. Sei Investments Co. now owns 419,762 shares of the company’s stock worth $16,888,000 after purchasing an additional 116,983 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Northern Oil and Gas by 5.8% in the third quarter. Deutsche Bank AG now owns 141,894 shares of the company’s stock valued at $5,708,000 after purchasing an additional 7,720 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Wall Street Analysts Forecast Growth

NOG has been the topic of several recent analyst reports. Piper Sandler raised their price target on Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Stifel Nicolaus boosted their price objective on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Truist Financial raised their price target on shares of Northern Oil and Gas from $55.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Royal Bank of Canada restated an “outperform” rating and set a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday. Finally, Citigroup decreased their target price on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.90.

Insider Buying and Selling

In related news, insider James B. Evans sold 3,150 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total value of $132,300.00. Following the completion of the transaction, the insider now owns 73,753 shares in the company, valued at approximately $3,097,626. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total value of $132,300.00. Following the transaction, the insider now directly owns 73,753 shares of the company’s stock, valued at $3,097,626. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.88, for a total transaction of $52,728.96. Following the completion of the transaction, the president now directly owns 107,628 shares in the company, valued at $4,076,948.64. The disclosure for this sale can be found here. Insiders have sold a total of 5,934 shares of company stock worth $241,906 over the last quarter. 2.80% of the stock is owned by company insiders.

Northern Oil and Gas Trading Down 1.5 %

Northern Oil and Gas stock traded down $0.59 during mid-day trading on Friday, hitting $38.27. The company’s stock had a trading volume of 88,037 shares, compared to its average volume of 1,280,818. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97. The stock’s fifty day moving average is $39.17 and its two-hundred day moving average is $37.81. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $43.75. The firm has a market capitalization of $3.87 billion, a PE ratio of 6.30 and a beta of 1.79.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. The firm had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The business’s revenue was down 31.9% on a year-over-year basis. During the same quarter last year, the company posted $1.76 earnings per share. On average, analysts anticipate that Northern Oil and Gas, Inc. will post 4.95 EPS for the current year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Thursday, June 27th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.18%. The ex-dividend date is Thursday, June 27th. Northern Oil and Gas’s dividend payout ratio is currently 25.93%.

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.