Teacher Retirement System of Texas Invests $419,000 in Northern Oil and Gas, Inc. (NYSE:NOG)

Teacher Retirement System of Texas purchased a new stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 13,868 shares of the company's stock, valued at approximately $419,000.

A number of other institutional investors have also recently added to or reduced their stakes in NOG. State of Alaska Department of Revenue lifted its holdings in Northern Oil and Gas by 25.3% in the 1st quarter. State of Alaska Department of Revenue now owns 97,025 shares of the company's stock valued at $2,932,000 after purchasing an additional 19,586 shares in the last quarter. Woodline Partners LP purchased a new position in Northern Oil and Gas in the 4th quarter valued at $997,000. GAMMA Investing LLC raised its holdings in shares of Northern Oil and Gas by 2,067.5% during the 1st quarter. GAMMA Investing LLC now owns 45,950 shares of the company's stock worth $1,520,000 after acquiring an additional 43,830 shares during the period. American Century Companies Inc. raised its holdings in shares of Northern Oil and Gas by 3.9% during the 4th quarter. American Century Companies Inc. now owns 6,537,596 shares of the company's stock worth $242,937,000 after acquiring an additional 243,531 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Northern Oil and Gas during the 4th quarter worth $21,691,000. Institutional investors and hedge funds own 98.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NOG shares. Piper Sandler lifted their price target on Northern Oil and Gas from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Thursday. Citigroup lifted their price target on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Bank of America lifted their price target on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Raymond James Financial reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a report on Tuesday, May 13th. Finally, Mizuho reduced their price target on 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $38.78.

Northern Oil and Gas Trading Down 2.4%

NOG traded down $0.65 on Monday, hitting $26.59. The company had a trading volume of 2,347,388 shares, compared to its average volume of 1,618,110. The firm has a market cap of $2.62 billion, a P/E ratio of 4.14 and a beta of 1.50. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.96. The company's fifty day moving average price is $29.08 and its 200 day moving average price is $30.36. Northern Oil and Gas, Inc. has a 1 year low of $19.88 and a 1 year high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.21. The company had revenue of $602.10 million during the quarter, compared to the consensus estimate of $568.87 million. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. Northern Oil and Gas's revenue was up 51.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. As a group, equities analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 6.77%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

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.