New York State Common Retirement Fund Sells 3,877,502 Shares of Northern Oil and Gas, Inc. $NOG

New York State Common Retirement Fund lessened its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 76.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,168,755 shares of the company’s stock after selling 3,877,502 shares during the quarter. New York State Common Retirement Fund owned approximately 1.20% of Northern Oil and Gas worth $28,985,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. First Horizon Corp bought a new stake in shares of Northern Oil and Gas in the third quarter valued at approximately $27,000. Laurel Wealth Advisors LLC raised its holdings in Northern Oil and Gas by 2,736.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock valued at $29,000 after acquiring an additional 985 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after acquiring an additional 713 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Northern Oil and Gas by 315.7% during the second quarter. IFP Advisors Inc now owns 1,351 shares of the company’s stock worth $38,000 after acquiring an additional 1,026 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock worth $43,000 after acquiring an additional 1,228 shares during the period. 98.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

NOG has been the topic of several analyst reports. Mizuho set a $29.00 price target on Northern Oil and Gas in a research report on Wednesday, January 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Thursday, January 22nd. Morgan Stanley set a $24.00 price objective on shares of Northern Oil and Gas and gave the company an “underweight” rating in a research report on Friday, January 23rd. Royal Bank Of Canada lowered their price objective on shares of Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating for the company in a report on Tuesday, January 20th. Finally, Citigroup decreased their target price on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $29.29.

Northern Oil and Gas Stock Performance

NOG stock opened at $25.03 on Friday. Northern Oil and Gas, Inc. has a 1 year low of $19.88 and a 1 year high of $37.17. The stock’s fifty day moving average price is $22.57 and its 200-day moving average price is $23.82. The company has a market cap of $2.44 billion, a P/E ratio of 14.14 and a beta of 0.98. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.10 and a quick ratio of 1.10.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Thursday, November 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.21. Northern Oil and Gas had a return on equity of 20.61% and a net margin of 7.61%.The business had revenue of $556.64 million during the quarter, compared to analyst estimates of $528.36 million. During the same quarter in the previous year, the company posted $1.40 earnings per share. Northern Oil and Gas’s revenue for the quarter was down 26.1% on a year-over-year basis. On average, equities analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th were issued a $0.45 dividend. The ex-dividend date was Tuesday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.2%. Northern Oil and Gas’s payout ratio is 101.69%.

Northern Oil and Gas Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.