Mutual of America Capital Management LLC Acquires 62,254 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Mutual of America Capital Management LLC increased its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 16.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 443,264 shares of the company’s stock after purchasing an additional 62,254 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Northern Oil and Gas were worth $16,476,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NOG. Vanguard Group Inc. increased its position in shares of Northern Oil and Gas by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after purchasing an additional 2,827,642 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Northern Oil and Gas by 45.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after purchasing an additional 789,985 shares in the last quarter. American Century Companies Inc. increased its position in shares of Northern Oil and Gas by 11.0% during the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after purchasing an additional 552,645 shares in the last quarter. Capstone Investment Advisors LLC increased its position in shares of Northern Oil and Gas by 8,679.3% during the first quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock worth $20,355,000 after purchasing an additional 507,129 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of Northern Oil and Gas by 13.8% during the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock worth $69,430,000 after purchasing an additional 212,030 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NOG. Piper Sandler reduced their price target on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Bank of America upped their target price on Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Royal Bank of Canada reissued 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. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley cut their target price on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.78.

Northern Oil and Gas Price Performance

NYSE:NOG opened at $36.08 on Wednesday. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $43.80. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 5.85 and a beta of 1.81. The firm’s fifty day moving average is $38.50 and its two-hundred day moving average is $39.12.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The company had revenue of $560.80 million for the quarter, compared to analyst estimates of $542.28 million. During the same period in the prior year, the company earned $1.49 earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. Research analysts expect that Northern Oil and Gas, Inc. will post 5.41 EPS for the current year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.42 per share. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 4.66%. The ex-dividend date is Friday, September 27th. Northern Oil and Gas’s dividend payout ratio is presently 27.23%.

Insider Transactions at Northern Oil and Gas

In other news, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the sale, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related 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 transaction of $142,537.50. Following the completion of the transaction, the chief executive officer now owns 224,332 shares in the company, valued at approximately $8,526,859.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $37.88, for a total transaction of $52,728.96. Following the transaction, the president now owns 107,628 shares of the company’s stock, valued at approximately $4,076,948.64. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

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.