Louisiana State Employees Retirement System Invests $1.26 Million in Northern Oil and Gas, Inc. $NOG

Louisiana State Employees Retirement System bought a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 43,100 shares of the company’s stock, valued at approximately $1,260,000.

Several other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in Northern Oil and Gas by 55.1% in the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock valued at $1,233,000 after purchasing an additional 14,492 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Northern Oil and Gas by 3.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,334 shares of the company’s stock worth $1,763,000 after buying an additional 1,865 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings 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 buying an additional 713 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Northern Oil and Gas by 5.0% in the first quarter. Empowered Funds LLC now owns 65,217 shares of the company’s stock valued at $1,972,000 after acquiring an additional 3,124 shares during the period. Finally, Intech Investment Management LLC boosted its position in shares of Northern Oil and Gas by 41.8% in the first quarter. Intech Investment Management LLC now owns 46,453 shares of the company’s stock valued at $1,404,000 after acquiring an additional 13,690 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Performance

NOG opened at $17.92 on Friday. The firm has a market cap of $1.95 billion, a P/E ratio of -2.81 and a beta of 0.69. Northern Oil and Gas, Inc. has a 52-week low of $17.40 and a 52-week high of $31.28. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.53. The business’s fifty day moving average is $22.22 and its 200-day moving average is $24.29.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The business had revenue of $5.03 million during the quarter, compared to the consensus estimate of $511.38 million. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Northern Oil and Gas’s revenue for the quarter was down 6.2% compared to the same quarter last year. Sell-side analysts expect that Northern Oil and Gas, Inc. will post 3.33 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, June 29th will be given a $0.45 dividend. The ex-dividend date is Monday, June 29th. This represents a $1.80 annualized dividend and a dividend yield of 10.0%. Northern Oil and Gas’s payout ratio is presently -28.26%.

Insider Activity at Northern Oil and Gas

In other news, Director Bahram Akradi purchased 25,760 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $19.40 per share, with a total value of $499,744.00. Following the acquisition, the director owned 1,713,444 shares in the company, valued at approximately $33,240,813.60. The trade was a 1.53% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

NOG has been the topic of a number of recent research reports. Raymond James Financial set a $30.00 price target on shares of Northern Oil and Gas and gave the stock an “outperform” rating in a research report on Monday, June 15th. Weiss Ratings downgraded shares of Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Citigroup decreased their target price on shares of Northern Oil and Gas from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Royal Bank Of Canada raised their target price on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 8th. Finally, Morgan Stanley set a $25.00 price target on shares of Northern Oil and Gas and gave the company an “underweight” rating in a research report on Monday. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $31.88.

Northern Oil and Gas Company 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.