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

State of Alaska Department of Revenue increased its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,889 shares of the company’s stock after buying an additional 3,154 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Northern Oil and Gas worth $2,014,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Northern Oil and Gas by 45.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock valued at $93,744,000 after purchasing an additional 789,985 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Northern Oil and Gas by 11.0% in the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after buying an additional 552,645 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of Northern Oil and Gas by 13.8% during the 1st 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 during the last quarter. Jennison Associates LLC purchased a new position in Northern Oil and Gas during the 1st quarter valued at $7,780,000. Finally, Oxbow Advisors LLC bought a new position in Northern Oil and Gas in the 1st quarter valued at $5,652,000. 98.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, President Adam A. Dirlam sold 2,508 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the transaction, the president now directly owns 107,876 shares in the company, valued at $4,153,226. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total transaction of $96,558.00. Following the sale, the president now directly owns 107,876 shares of the company’s stock, valued at $4,153,226. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Erik J. Romslo sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the sale, the insider now owns 105,713 shares in the company, valued at $3,727,440.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,008 shares of company stock worth $228,013. Corporate insiders own 2.80% of the company’s stock.

Northern Oil and Gas Trading Down 1.2 %

Northern Oil and Gas stock opened at $35.81 on Friday. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $43.80. The stock has a market cap of $3.59 billion, a PE ratio of 6.34 and a beta of 1.81. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50-day moving average of $37.24 and a two-hundred day moving average of $38.71.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. The business had revenue of $560.80 million for the quarter, compared to analyst estimates of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The company’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.49 earnings per share. On average, research analysts anticipate that Northern Oil and Gas, Inc. will post 5.4 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, September 27th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend was Friday, September 27th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. Northern Oil and Gas’s dividend payout ratio is currently 29.73%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. StockNews.com cut shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Piper Sandler reduced their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Bank of America boosted their price target on Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Truist Financial reduced their price objective on Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Mizuho initiated coverage on Northern Oil and Gas in a report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.80.

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.