Collar Capital Management LLC Invests $2.88 Million in Northern Oil and Gas, Inc. $NOG

Collar Capital Management LLC acquired a new stake in Northern Oil and Gas, Inc. (NYSE:NOG) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 134,003 shares of the company’s stock, valued at approximately $2,877,000. Northern Oil and Gas accounts for about 1.9% of Collar Capital Management LLC’s portfolio, making the stock its 20th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOG. AQR Capital Management LLC lifted its stake in shares of Northern Oil and Gas by 55.1% in the first quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $1,233,000 after buying an additional 14,492 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Northern Oil and Gas by 3.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,334 shares of the company’s stock valued at $1,763,000 after purchasing an additional 1,865 shares during the last quarter. Jones Financial Companies Lllp lifted its position 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 worth $33,000 after buying an additional 713 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Northern Oil and Gas by 5.0% in the 1st quarter. Empowered Funds LLC now owns 65,217 shares of the company’s stock worth $1,972,000 after acquiring an additional 3,124 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Northern Oil and Gas by 41.8% during the 1st quarter. Intech Investment Management LLC now owns 46,453 shares of the company’s stock worth $1,404,000 after acquiring an additional 13,690 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 issued reports on NOG shares. Weiss Ratings cut Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Piper Sandler increased their price target 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. Raymond James Financial cut Northern Oil and Gas from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $37.00 to $35.00 in a research note on Thursday, May 21st. Morgan Stanley reiterated 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. Finally, Royal Bank Of Canada lifted their target price 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. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Northern Oil and Gas currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $22.37 on Tuesday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The company has a 50-day moving average of $26.03 and a two-hundred day moving average of $24.79. The stock has a market cap of $2.37 billion, a P/E ratio of -3.51 and a beta of 0.68. Northern Oil and Gas, Inc. has a 12-month low of $20.18 and a 12-month high of $32.62.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. The business had revenue of $5.03 million for the quarter, compared to the consensus estimate of $511.38 million. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The business’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.33 earnings per share. As a group, research analysts predict that Northern Oil and Gas, Inc. will post 3.37 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, June 29th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.0%. The ex-dividend date is Monday, June 29th. Northern Oil and Gas’s dividend payout ratio is presently -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.