State of Alaska Department of Revenue Purchases 20,550 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

State of Alaska Department of Revenue raised its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 36.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 77,439 shares of the company’s stock after purchasing an additional 20,550 shares during the period. State of Alaska Department of Revenue owned 0.08% of Northern Oil and Gas worth $2,877,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NOG. Legacy Investment Solutions LLC purchased a new position in Northern Oil and Gas during the third quarter valued at approximately $25,000. Signaturefd LLC boosted its position in Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after acquiring an additional 427 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after acquiring an additional 801 shares during the period. Avior Wealth Management LLC raised its position in shares of Northern Oil and Gas by 23.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after acquiring an additional 259 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Northern Oil and Gas by 58.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock worth $62,000 after purchasing an additional 647 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NOG. Piper Sandler reduced their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Monday, December 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 target price on shares of Northern Oil and Gas in a research note on Friday, January 10th. Finally, Truist Financial upped their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.56.

Insider Buying and Selling

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, the president now directly owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NOG opened at $35.18 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The company’s fifty day moving average price is $38.74 and its 200-day moving average price is $38.59. Northern Oil and Gas, Inc. has a 1-year low of $31.94 and a 1-year high of $44.31. The firm has a market capitalization of $3.51 billion, a PE ratio of 4.22 and a beta of 1.81.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.12%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

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.