Texas Permanent School Fund Corp Has $2.86 Million Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Texas Permanent School Fund Corp lowered its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 3.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 77,043 shares of the company’s stock after selling 2,840 shares during the period. Texas Permanent School Fund Corp’s holdings in Northern Oil and Gas were worth $2,864,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NOG. Vanguard Group Inc. grew its stake in Northern Oil and Gas by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after purchasing an additional 2,827,642 shares during the period. Capstone Investment Advisors LLC boosted its holdings in Northern Oil and Gas by 8,679.3% in the first quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock worth $20,355,000 after acquiring an additional 507,129 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Northern Oil and Gas by 30.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock worth $51,001,000 after acquiring an additional 324,958 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in Northern Oil and Gas by 13.8% in the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock worth $69,430,000 after acquiring an additional 212,030 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in Northern Oil and Gas in the first quarter worth approximately $7,780,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $34.44 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 5.58 and a beta of 1.81. The stock has a 50 day moving average of $38.62 and a 200 day moving average of $39.13. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $43.80.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. The company had revenue of $560.80 million during the quarter, compared to the consensus estimate of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. Northern Oil and Gas’s revenue was up 17.7% on a year-over-year basis. During the same period last year, the business posted $1.49 earnings per share. As a group, sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.41 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.88%. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 27.23%.

Insider Activity at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction that occurred 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 sale, the president now directly owns 107,628 shares of the company’s stock, valued at $4,076,948.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the sale, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.88, for a total value of $52,728.96. Following the completion of the sale, the president now directly owns 107,628 shares of the company’s stock, valued at $4,076,948.64. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NOG. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Truist Financial increased their price target on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Bank of America increased their price target on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. Finally, Piper Sandler dropped their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.00.

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.