Mutual of America Capital Management LLC Purchases 28,160 Shares of Northern Oil and Gas, Inc. $NOG

Key Points

• Mutual of America Capital Management LLC increased its holdings in Northern Oil and Gas, Inc. by 6.1%, now owning 488,269 shares worth approximately $13.8 million.
• Northern Oil and Gas recently declared a quarterly dividend of $0.45 per share, representing an annualized yield of 8.3%.
• The stock has a P/E ratio of 3.56 and a market capitalization of $2.11 billion, with shares opening at $21.58.

Mutual of America Capital Management LLC boosted its position in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 6.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 488,269 shares of the company's stock after buying an additional 28,160 shares during the period. Mutual of America Capital Management LLC owned approximately 0.49% of Northern Oil and Gas worth $13,842,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Nuveen LLC acquired a new position in shares of Northern Oil and Gas in the 1st quarter valued at about $36,288,000. Dimensional Fund Advisors LP lifted its stake in Northern Oil and Gas by 30.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company's stock valued at $129,939,000 after buying an additional 1,001,493 shares during the period. BW Gestao de Investimentos Ltda. bought a new position in shares of Northern Oil and Gas during the 1st quarter worth approximately $14,137,000. American Century Companies Inc. grew its position in shares of Northern Oil and Gas by 6.4% during the 1st quarter. American Century Companies Inc. now owns 6,953,377 shares of the company's stock worth $210,201,000 after buying an additional 415,781 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Northern Oil and Gas by 25.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,951,505 shares of the company's stock worth $56,867,000 after buying an additional 397,128 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $21.58 on Friday. The firm has a market capitalization of $2.11 billion, a P/E ratio of 3.56 and a beta of 1.61. Northern Oil and Gas, Inc. has a 52 week low of $19.88 and a 52 week high of $44.31. The stock has a 50 day moving average price of $24.87 and a two-hundred day moving average price of $26.35. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its earnings results on Monday, March 6th. The company reported $1.06 earnings per share (EPS) for the quarter. The company had revenue of $319.19 million for the quarter. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%. Equities analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date of this dividend is Monday, September 29th. Northern Oil and Gas's dividend payout ratio (DPR) is presently 29.70%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Piper Sandler reissued a "neutral" rating and set a $25.00 target price (down from $31.00) on shares of Northern Oil and Gas in a research note on Monday, August 4th. Weiss Ratings reissued a "hold (c-)" rating on shares of Northern Oil and Gas in a research report on Wednesday, October 8th. Royal Bank Of Canada decreased their target price on 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, July 14th. Mizuho cut their price target on Northern Oil and Gas from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Monday, September 15th. Finally, Morgan Stanley restated an "underweight" rating and set a $26.00 price objective (down previously from $27.00) on shares of Northern Oil and Gas in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $34.25.

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.

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