Illinois Municipal Retirement Fund Increases Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Illinois Municipal Retirement Fund lifted its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,045 shares of the company’s stock after acquiring an additional 487 shares during the period. Illinois Municipal Retirement Fund owned 0.06% of Northern Oil and Gas worth $2,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOG. Legacy Investment Solutions LLC acquired a new position in shares of Northern Oil and Gas in the third quarter valued at about $25,000. Blue Trust Inc. increased its stake in shares of Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after acquiring an additional 801 shares during the period. Avior Wealth Management LLC increased its stake in shares of Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after acquiring an additional 259 shares during the period. Covestor Ltd raised its holdings in shares of Northern Oil and Gas by 122.6% during the third quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Quarry LP lifted its position in Northern Oil and Gas by 74.4% during the third quarter. Quarry LP now owns 1,974 shares of the company’s stock valued at $70,000 after purchasing an additional 842 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Trading Down 1.4 %

Shares of NYSE:NOG opened at $31.47 on Friday. The business’s 50 day moving average price is $36.96 and its 200-day moving average price is $38.08. Northern Oil and Gas, Inc. has a 1 year low of $31.16 and a 1 year high of $44.31. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 6.12 and a beta of 1.82. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The company had revenue of $545.47 million for the quarter, compared to analysts’ expectations of $552.34 million. On average, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be paid a $0.45 dividend. The ex-dividend date is Friday, March 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 5.72%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 35.02%.

Insider Buying and Selling

In other news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the transaction, the president now owns 96,223 shares in the company, valued at $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NOG shares. Capital One Financial downgraded Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. Truist Financial lifted their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a report on Monday, December 16th. Piper Sandler dropped their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Finally, Morgan Stanley set a $43.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Northern Oil and Gas presently has a consensus rating of “Hold” and a consensus price target of $46.89.

About Northern Oil and Gas

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.