Mutual of America Capital Management LLC Boosts Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Mutual of America Capital Management LLC lifted its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 16.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,264 shares of the company’s stock after purchasing an additional 62,254 shares during the period. Mutual of America Capital Management LLC owned 0.44% of Northern Oil and Gas worth $16,476,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOG. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Northern Oil and Gas by 1.4% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock worth $849,000 after buying an additional 320 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Northern Oil and Gas by 91.5% during the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after purchasing an additional 528 shares in the last quarter. Arizona State Retirement System grew its position in shares of Northern Oil and Gas by 2.2% during the second quarter. Arizona State Retirement System now owns 25,415 shares of the company’s stock valued at $945,000 after purchasing an additional 555 shares in the last quarter. Insight Wealth Strategies LLC grew its position in shares of Northern Oil and Gas by 2.7% during the second quarter. Insight Wealth Strategies LLC now owns 27,197 shares of the company’s stock valued at $1,011,000 after purchasing an additional 717 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of Northern Oil and Gas by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 46,000 shares of the company’s stock valued at $1,710,000 after purchasing an additional 800 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday. Piper Sandler cut their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Bank of America increased their price target on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Truist Financial increased their price target on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.78.

Insider Transactions at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.88, for a total transaction of $52,728.96. Following the transaction, the president now directly owns 107,628 shares of the company’s stock, valued at $4,076,948.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $37.88, for a total transaction of $52,728.96. Following the completion of the transaction, the president now directly 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.

Northern Oil and Gas Stock Up 3.4 %

Shares of NYSE NOG opened at $36.08 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $3.65 billion, a P/E ratio of 5.85 and a beta of 1.81. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $43.80. The firm has a 50-day simple moving average of $38.50 and a two-hundred day simple moving average of $39.12.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.26. The business had revenue of $560.80 million during the quarter, compared to the consensus estimate of $542.28 million. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.49 earnings per share. Research analysts anticipate that Northern Oil and Gas, Inc. will post 5.41 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

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

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.