Arizona State Retirement System Sells 414 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Arizona State Retirement System reduced its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,203 shares of the company’s stock after selling 414 shares during the period. Arizona State Retirement System’s holdings in Northern Oil and Gas were worth $822,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Northern Oil and Gas by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company’s stock worth $418,916,000 after purchasing an additional 166,501 shares during the last quarter. American Century Companies Inc. lifted its holdings in Northern Oil and Gas by 3.9% in the fourth quarter. American Century Companies Inc. now owns 6,537,596 shares of the company’s stock valued at $242,937,000 after buying an additional 243,531 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Northern Oil and Gas by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,296,886 shares of the company’s stock valued at $122,507,000 after buying an additional 68,631 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Northern Oil and Gas by 12.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,554,377 shares of the company’s stock valued at $46,429,000 after buying an additional 173,092 shares during the period. Finally, Northern Trust Corp lifted its holdings in Northern Oil and Gas by 9.2% in the fourth quarter. Northern Trust Corp now owns 1,246,573 shares of the company’s stock valued at $46,323,000 after buying an additional 104,854 shares during the period. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Trading Down 1.1%

NYSE:NOG opened at $27.24 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50-day moving average of $29.08 and a 200-day moving average of $30.36. The company has a market cap of $2.69 billion, a PE ratio of 4.24 and a beta of 1.50. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one year high of $44.31.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.12 by $0.21. The company had revenue of $602.10 million during the quarter, compared to the consensus estimate of $568.87 million. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. The firm’s revenue for the quarter was up 51.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 earnings per share. As a group, equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.61%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas’s payout ratio is presently 28.04%.

Wall Street Analyst Weigh In

NOG has been the topic of several recent analyst reports. Mizuho dropped their target price 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, July 16th. Morgan Stanley dropped 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 report on Thursday, March 27th. Royal Bank Of Canada dropped their target price on shares of Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Monday, July 14th. Piper Sandler boosted their target price 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. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, 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.