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

Mutual of America Capital Management LLC lowered its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 441,227 shares of the company’s stock after selling 2,037 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Northern Oil and Gas were worth $15,624,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Northern Oil and Gas by 45.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock valued at $93,744,000 after acquiring an additional 789,985 shares during the last quarter. American Century Companies Inc. increased its position in shares of Northern Oil and Gas by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after purchasing an additional 552,645 shares during the last quarter. abrdn plc purchased a new position in shares of Northern Oil and Gas during the 3rd quarter valued at about $17,096,000. New York State Common Retirement Fund raised its holdings in shares of Northern Oil and Gas by 41.4% during the 3rd quarter. New York State Common Retirement Fund now owns 940,987 shares of the company’s stock valued at $33,320,000 after buying an additional 275,704 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its position in Northern Oil and Gas by 14.4% in the 2nd quarter. Hood River Capital Management LLC now owns 955,579 shares of the company’s stock worth $35,519,000 after buying an additional 120,356 shares during the last quarter. 98.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com cut shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Piper Sandler reduced their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Morgan Stanley lowered their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Jefferies Financial Group started coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective on the stock. Finally, Mizuho assumed coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They issued an “outperform” rating and a $47.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Northern Oil and Gas Stock Down 1.0 %

Shares of NYSE:NOG opened at $40.50 on Friday. The stock’s 50-day moving average is $37.51 and its 200 day moving average is $38.51. The company has a market cap of $4.04 billion, a PE ratio of 4.86 and a beta of 1.80. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $43.80.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The company had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. During the same quarter in the prior year, the company earned $1.73 earnings per share. The firm’s revenue for the quarter was up 140.0% on a year-over-year basis. Sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.38 EPS for the current year.

Insiders Place Their Bets

In other Northern Oil and Gas news, CFO Chad W. Allen sold 1,500 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at approximately $3,351,680. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the transaction, the president now directly owns 107,876 shares of the company’s stock, valued at $4,153,226. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,508 shares of company stock worth $248,113. 2.80% of the stock is currently owned by corporate insiders.

Northern Oil and Gas Company 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.