Public Sector Pension Investment Board Purchases 10,200 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Public Sector Pension Investment Board grew its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 5.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 211,531 shares of the company’s stock after acquiring an additional 10,200 shares during the quarter. Public Sector Pension Investment Board’s holdings in Northern Oil and Gas were worth $7,490,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NOG. Price T Rowe Associates Inc. MD lifted its stake in Northern Oil and Gas by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,720 shares of the company’s stock worth $2,053,000 after purchasing an additional 3,251 shares during the last quarter. Boston Partners purchased a new position in shares of Northern Oil and Gas in the first quarter worth about $885,000. GAMMA Investing LLC increased its holdings in shares of Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after buying an additional 528 shares during the period. Insight Wealth Strategies LLC increased its holdings in shares of Northern Oil and Gas by 2.7% in the second quarter. Insight Wealth Strategies LLC now owns 27,197 shares of the company’s stock worth $1,011,000 after buying an additional 717 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Northern Oil and Gas by 290.5% in the second quarter. Harbor Capital Advisors Inc. now owns 84,213 shares of the company’s stock worth $3,130,000 after buying an additional 62,649 shares during the period. Institutional investors own 98.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NOG. Mizuho began coverage on Northern Oil and Gas in a report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price objective on the stock. Royal Bank of Canada downgraded Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $43.00 to $45.00 in a report on Wednesday, November 20th. Jefferies Financial Group began coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective on the stock. Truist Financial lifted their price objective on Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Morgan Stanley lowered their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Northern Oil and Gas presently has an average rating of “Moderate Buy” and an average price target of $47.50.

Northern Oil and Gas Stock Up 0.1 %

Shares of Northern Oil and Gas stock opened at $43.49 on Friday. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $44.31. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 5.22 and a beta of 1.80. The company has a 50-day moving average of $38.98 and a 200 day moving average of $38.68. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. During the same quarter in the prior year, the company earned $1.73 earnings per share. The business’s revenue was up 140.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s payout ratio is 20.17%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, CFO Chad W. Allen sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief financial officer now directly owns 83,792 shares in the company, valued at approximately $3,351,680. This trade represents a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of the firm’s 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 owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,508 shares of company stock worth $248,113. 2.80% of the stock is owned by insiders.

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.