Commons Capital LLC Buys 25,000 Shares of Northern Oil and Gas, Inc. $NOG

Commons Capital LLC raised its stake in Northern Oil and Gas, Inc. (NYSE:NOG) by 45.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,000 shares of the company’s stock after acquiring an additional 25,000 shares during the period. Northern Oil and Gas makes up 1.2% of Commons Capital LLC’s portfolio, making the stock its 19th biggest position. Commons Capital LLC owned approximately 0.08% of Northern Oil and Gas worth $1,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of NOG. First Horizon Corp purchased a new stake in Northern Oil and Gas during the 3rd quarter valued at about $27,000. Laurel Wealth Advisors LLC lifted its stake in shares of Northern Oil and Gas by 2,736.1% in the second quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock worth $29,000 after buying an additional 985 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of 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 increased its position in shares of Northern Oil and Gas by 429.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock valued at $43,000 after acquiring an additional 1,228 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Northern Oil and Gas by 85.7% during the second quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock valued at $44,000 after acquiring an additional 702 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NOG opened at $28.47 on Friday. The firm has a fifty day simple moving average of $25.70 and a two-hundred day simple moving average of $24.02. The firm has a market cap of $2.77 billion, a PE ratio of 86.28 and a beta of 0.96. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.13. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $32.62.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. The firm had revenue of $610.18 million for the quarter, compared to the consensus estimate of $524.98 million. Northern Oil and Gas had a return on equity of 19.74% and a net margin of 1.57%.The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the business posted $1.11 EPS. On average, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, March 30th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Monday, March 30th. Northern Oil and Gas’s payout ratio is currently 545.45%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NOG. Mizuho set a $29.00 price objective on Northern Oil and Gas in a research report on Wednesday, January 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Thursday, January 22nd. Royal Bank Of Canada lowered their price target on Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 20th. Citigroup increased their price objective on Northern Oil and Gas from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Finally, Piper Sandler boosted their target price on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Northern Oil and Gas presently has a consensus rating of “Hold” and a consensus target price of $31.14.

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.