Maryland State Retirement & Pension System Has $877,000 Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Maryland State Retirement & Pension System lowered its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 13.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,008 shares of the company’s stock after selling 4,402 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Northern Oil and Gas were worth $877,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Signaturefd LLC grew its position in Northern Oil and Gas by 60.0% in the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company’s stock valued at $33,000 after purchasing an additional 405 shares during the period. Byrne Asset Management LLC grew its position in Northern Oil and Gas by 54.9% in the 1st quarter. Byrne Asset Management LLC now owns 1,363 shares of the company’s stock valued at $41,000 after purchasing an additional 483 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in Northern Oil and Gas by 127.7% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company’s stock valued at $45,000 after purchasing an additional 835 shares during the period. Headlands Technologies LLC grew its position in Northern Oil and Gas by 124.6% in the 1st quarter. Headlands Technologies LLC now owns 1,743 shares of the company’s stock valued at $53,000 after purchasing an additional 967 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in Northern Oil and Gas in the 1st quarter valued at $54,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $23.98 on Tuesday. The company’s 50-day moving average is $28.78 and its 200 day moving average is $28.87. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market capitalization of $2.34 billion, a P/E ratio of 3.96 and a beta of 1.55. Northern Oil and Gas, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.50. The company had revenue of $706.81 million for the quarter, compared to the consensus estimate of $555.54 million. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 EPS. On average, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend is Monday, September 29th. Northern Oil and Gas’s payout ratio is 29.70%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NOG. Raymond James Financial reissued a “strong-buy” rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 price objective (down from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. Mizuho cut their price objective 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. Bank of America lifted their price objective on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Finally, Citigroup lifted their price objective on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.11.

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.