Northern Oil and Gas, Inc. (NYSE:NOG) Position Increased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC boosted its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 4.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 460,109 shares of the company's stock after purchasing an additional 19,980 shares during the quarter. Mutual of America Capital Management LLC owned about 0.47% of Northern Oil and Gas worth $13,909,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Northern Oil and Gas in the fourth quarter worth $21,691,000. American Century Companies Inc. boosted its position in 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 purchasing an additional 243,531 shares during the period. Natixis acquired a new stake in Northern Oil and Gas in the 4th quarter valued at $7,503,000. Ninepoint Partners LP purchased a new position in Northern Oil and Gas in the fourth quarter valued at about $7,432,000. Finally, Allspring Global Investments Holdings LLC raised 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 during the period. Hedge funds and other institutional investors own 98.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NOG shares. Citigroup upped their target price on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday. Piper Sandler decreased their price target on Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Bank of America increased their price objective 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. Mizuho reduced their target price on shares of Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Morgan Stanley decreased their target price on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Northern Oil and Gas presently has an average rating of "Hold" and a consensus price target of $38.89.

Northern Oil and Gas Stock Down 0.3%

Shares of NYSE:NOG traded down $0.08 during midday trading on Friday, reaching $30.69. The company had a trading volume of 1,283,592 shares, compared to its average volume of 1,606,866. The stock has a market capitalization of $3.03 billion, a P/E ratio of 4.78 and a beta of 1.50. The stock's fifty day moving average price is $28.82 and its 200-day moving average price is $30.71. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.92. Northern Oil and Gas, Inc. has a one year low of $19.88 and a one 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, topping the consensus estimate of $1.12 by $0.21. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. The company had revenue of $602.10 million during the quarter, compared to the consensus estimate of $568.87 million. During the same quarter in the previous year, the firm earned $1.28 EPS. The company's revenue was up 51.9% on a year-over-year basis. Equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.87%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's 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.