Northern Oil and Gas, Inc. (NYSE:NOG) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 8.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,101 shares of the company’s stock after selling 4,748 shares during the period. Illinois Municipal Retirement Fund’s holdings in Northern Oil and Gas were worth $2,067,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in shares of Northern Oil and Gas during the fourth quarter worth $42,000. TFO Wealth Partners LLC lifted its holdings in Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after acquiring an additional 1,121 shares during the period. SRS Capital Advisors Inc. boosted its position in Northern Oil and Gas by 305.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after purchasing an additional 927 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Northern Oil and Gas by 74.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after purchasing an additional 930 shares during the period. Finally, Assetmark Inc. increased its holdings in shares of Northern Oil and Gas by 27.5% during the 4th quarter. Assetmark Inc. now owns 3,902 shares of the company’s stock valued at $145,000 after purchasing an additional 841 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total value of $56,877.12. Following the completion of the transaction, the president now directly owns 109,020 shares of the company’s stock, valued at $4,454,557.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the sale, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $40.86, for a total value of $56,877.12. Following the transaction, the president now directly owns 109,020 shares in the company, valued at approximately $4,454,557.20. The disclosure for this sale can be found here. Insiders have sold 6,534 shares of company stock valued at $252,144 over the last quarter. 2.80% of the stock is owned by insiders.

Northern Oil and Gas Trading Up 0.4 %

Northern Oil and Gas stock traded up $0.14 during mid-day trading on Friday, hitting $39.48. The company’s stock had a trading volume of 926,445 shares, compared to its average volume of 1,404,025. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $43.75. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $3.99 billion, a PE ratio of 6.40 and a beta of 1.79. The stock’s fifty day moving average is $38.87 and its two-hundred day moving average is $37.84.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The company had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. During the same quarter in the previous year, the company earned $1.76 earnings per share. The firm’s quarterly revenue was down 31.9% compared to the same quarter last year. On average, analysts anticipate that Northern Oil and Gas, Inc. will post 4.97 EPS for the current year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.05%. Northern Oil and Gas’s payout ratio is 25.93%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stifel Nicolaus raised their target price on Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Citigroup cut their price objective on Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. Morgan Stanley lifted their price objective on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Piper Sandler increased their target price on Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

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.