Collar Capital Management LLC Purchases Shares of 134,003 Northern Oil and Gas, Inc. $NOG

Key Points

• Collar Capital Management bought a new stake in Northern Oil and Gas in the fourth quarter, acquiring 134,003 shares worth about $2.88 million. The position represented about 1.9% of its portfolio.
• Institutional ownership in Northern Oil and Gas remains very high, with 98.8% of shares held by institutions. Several other investors also recently increased or initiated positions.
• Analyst sentiment is mixed: the stock carries a Hold consensus rating with a $33 average price target, while Northern Oil and Gas also recently announced a quarterly $0.45 dividend, implying an annualized yield of about 8.0%.

Collar Capital Management LLC acquired a new stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 134,003 shares of the company's stock, valued at approximately $2,877,000. Northern Oil and Gas comprises about 1.9% of Collar Capital Management LLC's investment portfolio, making the stock its 20th largest position. Collar Capital Management LLC owned 0.14% of Northern Oil and Gas as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company's stock valued at $33,000 after buying an additional 713 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Northern Oil and Gas by 429.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company's stock worth $43,000 after purchasing an additional 1,228 shares during the period. Smartleaf Asset Management LLC increased its stake in Northern Oil and Gas by 85.7% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company's stock worth $44,000 after buying an additional 702 shares during the period. Global Retirement Partners LLC boosted its position in Northern Oil and Gas by 572.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,682 shares of the company's stock valued at $36,000 after purchasing an additional 1,432 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new position in shares of Northern Oil and Gas in the 4th quarter worth approximately $43,000. 98.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley restated an "underweight" rating and set a $29.00 price target (up from $28.00) on shares of Northern Oil and Gas in a research note on Friday, May 22nd. Raymond James Financial downgraded shares of Northern Oil and Gas from a "strong-buy" rating to an "outperform" rating and dropped their target price for the stock from $37.00 to $35.00 in a research report on Thursday, May 21st. Johnson Rice cut shares of Northern Oil and Gas from an "accumulate" rating to a "hold" rating and set a $36.00 price target for the company. in a report on Wednesday, May 20th. Royal Bank Of Canada boosted their price objective on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the company a "sector perform" rating in a report on Wednesday, April 8th. Finally, Piper Sandler upped their target price on Northern Oil and Gas from $27.00 to $32.00 and gave the company a "neutral" rating in a research report on Thursday, March 12th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $33.00.

Northern Oil and Gas Stock Performance

NYSE NOG opened at $22.37 on Tuesday. The firm has a market capitalization of $2.37 billion, a P/E ratio of -3.51 and a beta of 0.68. The stock has a 50-day simple moving average of $26.03 and a two-hundred day simple moving average of $24.79. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.53. Northern Oil and Gas, Inc. has a fifty-two week low of $20.18 and a fifty-two week high of $32.62.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The firm had revenue of $5.03 million for the quarter, compared to analyst estimates of $511.38 million. During the same period last year, the company earned $1.33 earnings per share. Northern Oil and Gas's revenue for the quarter was down 6.2% compared to the same quarter last year. On average, equities analysts forecast that Northern Oil and Gas, Inc. will post 3.37 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be given a $0.45 dividend. The ex-dividend date is Monday, June 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.0%. Northern Oil and Gas's dividend payout ratio is -28.26%.

Northern Oil and Gas Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company's primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.

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