VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 9,700 Northern Oil and Gas, Inc. $NOG

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 9,700 shares of the company’s stock, valued at approximately $275,000.

Several other large investors also recently modified their holdings of NOG. American Century Companies Inc. lifted its position in Northern Oil and Gas by 6.4% during the first quarter. American Century Companies Inc. now owns 6,953,377 shares of the company’s stock worth $210,201,000 after purchasing an additional 415,781 shares during the period. Principal Financial Group Inc. grew its stake in Northern Oil and Gas by 2.6% during the first quarter. Principal Financial Group Inc. now owns 494,508 shares of the company’s stock worth $14,949,000 after buying an additional 12,711 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Northern Oil and Gas by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,141,754 shares of the company’s stock worth $34,515,000 after buying an additional 82,855 shares in the last quarter. Motley Fool Asset Management LLC boosted its position in shares of Northern Oil and Gas by 21.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 85,483 shares of the company’s stock worth $2,584,000 after acquiring an additional 14,945 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Northern Oil and Gas by 1.9% during the 1st quarter. New York State Common Retirement Fund now owns 1,092,152 shares of the company’s stock worth $33,016,000 after acquiring an additional 20,186 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $21.57 on Monday. The stock has a market cap of $2.10 billion, a P/E ratio of 3.56 and a beta of 1.61. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. The stock’s 50-day moving average is $24.57 and its 200-day moving average is $26.32. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $44.31.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Monday, March 6th. The company reported $1.06 earnings per share (EPS) for the quarter. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The business had revenue of $319.19 million during the quarter. Equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, September 29th. This represents a $1.80 annualized dividend and a yield of 8.3%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 29.70%.

Analyst Upgrades and Downgrades

Several research analysts have commented on NOG shares. Royal Bank Of Canada lowered their price objective on shares of Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Monday, July 14th. Morgan Stanley reaffirmed an “underweight” rating and issued a $26.00 price objective (down from $27.00) on shares of Northern Oil and Gas in a research note on Tuesday, October 14th. William Blair assumed coverage on Northern Oil and Gas in a research note on Monday, August 25th. They issued an “outperform” rating on the stock. Citigroup reduced their price objective on Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $33.00.

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.