State of Alaska Department of Revenue Buys 19,586 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

State of Alaska Department of Revenue lifted its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 25.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,025 shares of the company's stock after buying an additional 19,586 shares during the quarter. State of Alaska Department of Revenue owned about 0.10% of Northern Oil and Gas worth $2,932,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of Northern Oil and Gas during the fourth quarter worth $29,000. Byrne Asset Management LLC raised its stake in shares of Northern Oil and Gas by 54.9% during 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. Blue Trust Inc. raised its stake in shares of Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock valued at $44,000 after purchasing an additional 801 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Northern Oil and Gas by 127.7% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock worth $45,000 after purchasing an additional 835 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in Northern Oil and Gas in the 1st quarter worth about $54,000. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Price Performance

NYSE NOG traded down $0.39 during trading hours on Wednesday, reaching $28.75. 1,390,264 shares of the stock traded hands, compared to its average volume of 1,598,110. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a 50 day simple moving average of $27.36 and a two-hundred day simple moving average of $31.49. Northern Oil and Gas, Inc. has a 1 year low of $19.88 and a 1 year high of $44.31. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 5.50 and a beta of 1.51.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.12 by $0.21. The firm had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. The company's revenue was up 51.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.28 EPS. On average, analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas declared that its board has approved a stock buyback plan on Tuesday, March 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.

Northern Oil and Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.26%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio (DPR) is presently 28.04%.

Analysts Set New Price Targets

NOG has been the subject of a number of recent analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Bank of America boosted their price objective on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Morgan Stanley lowered their target price on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Royal Bank Of Canada reduced their price target on shares of Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating for the company in a research report on Monday, April 14th. Finally, Mizuho lowered their price objective on Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $39.67.

Northern Oil and Gas 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.