Teacher Retirement System of Texas Makes New Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

Teacher Retirement System of Texas acquired a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,868 shares of the company’s stock, valued at approximately $419,000.

Other hedge funds have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of Northern Oil and Gas in the fourth quarter valued at approximately $29,000. Byrne Asset Management LLC grew its stake in Northern Oil and Gas by 54.9% in the 1st quarter. Byrne Asset Management LLC now owns 1,363 shares of the company’s stock worth $41,000 after buying an additional 483 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Northern Oil and Gas by 127.7% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company’s stock valued at $45,000 after purchasing an additional 835 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Northern Oil and Gas in the 1st quarter valued at $54,000. Finally, Tower Research Capital LLC TRC raised its holdings in Northern Oil and Gas by 187.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,347 shares of the company’s stock valued at $87,000 after buying an additional 1,530 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Up 2.3%

Shares of NOG opened at $27.55 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.96. The firm has a fifty day moving average price of $29.06 and a 200-day moving average price of $30.52. The firm has a market capitalization of $2.72 billion, a P/E ratio of 4.29 and a beta of 1.50. Northern Oil and Gas, Inc. has a 12-month low of $19.88 and a 12-month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.21. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. The business had revenue of $602.10 million during the quarter, compared to the consensus estimate of $568.87 million. During the same period in the previous year, the company posted $1.28 earnings per share. The firm’s revenue was up 51.9% on a year-over-year basis. Equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be given a $0.45 dividend. The ex-dividend date is Friday, June 27th. This represents a $1.80 annualized dividend and a yield of 6.53%. Northern Oil and Gas’s dividend payout ratio is presently 28.04%.

Analysts Set New Price Targets

NOG has been the subject of several research reports. Citigroup upped their price objective on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Piper Sandler raised their price target on shares of Northern Oil and Gas from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday. Bank of America raised their price target on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Mizuho dropped their price objective on shares of Northern Oil and Gas from $33.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Morgan Stanley decreased their target price on shares of Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $38.78.

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.