Public Employees Retirement System of Ohio Sells 78,885 Shares of Northern Oil and Gas, Inc. $NOG

Public Employees Retirement System of Ohio lowered its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 60.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,683 shares of the company’s stock after selling 78,885 shares during the period. Public Employees Retirement System of Ohio’s holdings in Northern Oil and Gas were worth $1,511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Jones Financial Companies Lllp increased 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. Ascentis Independent Advisors acquired a new stake in shares of Northern Oil and Gas during the 1st quarter valued at $33,000. EverSource Wealth Advisors LLC grew its position in Northern Oil and Gas by 429.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock worth $43,000 after acquiring an additional 1,228 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Northern Oil and Gas by 85.7% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock worth $44,000 after purchasing an additional 702 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Northern Oil and Gas by 572.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock worth $36,000 after purchasing an additional 1,432 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Down 0.2%

Shares of NYSE:NOG opened at $21.10 on Monday. Northern Oil and Gas, Inc. has a 1 year low of $17.18 and a 1 year high of $31.17. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.53 and a quick ratio of 0.53. The business’s 50-day moving average is $20.32 and its 200-day moving average is $24.12. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -3.31 and a beta of 0.70.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, June 29th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date of this dividend was Monday, June 29th. Northern Oil and Gas’s dividend payout ratio is -28.26%.

Insider Activity

In other news, Director Bahram Akradi bought 25,760 shares of Northern Oil and Gas stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $19.40 per share, for a total transaction of $499,744.00. Following the purchase, the director directly owned 1,713,444 shares in the company, valued at approximately $33,240,813.60. This represents a 1.53% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup cut their price target on Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Morgan Stanley set a $25.00 price objective on shares of Northern Oil and Gas and gave the company an “underweight” rating in a report on Monday, June 29th. Weiss Ratings downgraded shares of Northern Oil and Gas from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada boosted 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, Mizuho decreased their price target on shares of Northern Oil and Gas from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.62.

About Northern Oil and Gas

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.