Teacher Retirement System of Texas Makes New Investment in Northern Oil and Gas, Inc. (NYSE:NOG)

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Northern Oil and Gas in the fourth quarter valued at $21,691,000. American Century Companies Inc. grew its position in Northern Oil and Gas by 3.9% in the fourth quarter. American Century Companies Inc. now owns 6,537,596 shares of the company's stock valued at $242,937,000 after purchasing an additional 243,531 shares in the last quarter. Natixis bought a new position in Northern Oil and Gas in the fourth quarter valued at $7,503,000. Allspring Global Investments Holdings LLC grew its position in Northern Oil and Gas by 12.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,554,377 shares of the company's stock valued at $46,429,000 after purchasing an additional 173,092 shares in the last quarter. Finally, Jump Financial LLC bought a new position in Northern Oil and Gas in the fourth quarter valued at $6,423,000. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG traded down $0.29 during mid-day trading on Friday, reaching $27.24. 2,044,397 shares of the company were exchanged, compared to its average volume of 1,609,834. The company's 50-day simple moving average is $29.06 and its 200-day simple moving average is $30.52. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $2.69 billion, a P/E ratio of 4.24 and a beta of 1.50. Northern Oil and Gas, Inc. has a twelve month low of $19.88 and a twelve month high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.21. The company had revenue of $602.10 million during the quarter, compared to analysts' expectations of $568.87 million. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. Northern Oil and Gas's quarterly revenue was up 51.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 EPS. As a group, research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is presently 28.04%.

Wall Street Analysts Forecast Growth

NOG has been the subject of a number of analyst reports. Bank of America raised their target price on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Piper Sandler raised their target price on shares of Northern Oil and Gas from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Thursday. Royal Bank Of Canada decreased their target price on shares of Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a research report on Monday. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Finally, Citigroup lifted their price objective on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. One research 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's stock. According to MarketBeat.com, Northern Oil and Gas has a consensus rating of "Hold" and an average target price of $38.78.

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.