Commons Capital LLC Purchases New Stake in Northern Oil and Gas, Inc. $NOG

Commons Capital LLC acquired a new position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 55,000 shares of the company’s stock, valued at approximately $1,364,000. Northern Oil and Gas comprises approximately 0.9% of Commons Capital LLC’s investment portfolio, making the stock its 29th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the business. DLD Asset Management LP grew its holdings in shares of Northern Oil and Gas by 42.9% during the second quarter. DLD Asset Management LP now owns 25,000,000 shares of the company’s stock valued at $708,750,000 after purchasing an additional 7,500,000 shares during the last quarter. Tributary Capital Management LLC lifted its holdings in Northern Oil and Gas by 146.3% in the third quarter. Tributary Capital Management LLC now owns 1,312,256 shares of the company’s stock worth $32,544,000 after purchasing an additional 779,492 shares during the period. AQR Capital Management LLC lifted its holdings in Northern Oil and Gas by 568.7% in the second quarter. AQR Capital Management LLC now owns 272,719 shares of the company’s stock worth $7,732,000 after purchasing an additional 231,938 shares during the period. Channing Capital Management LLC grew its position in Northern Oil and Gas by 15.7% in the 3rd quarter. Channing Capital Management LLC now owns 1,702,177 shares of the company’s stock valued at $42,214,000 after buying an additional 230,899 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Northern Oil and Gas by 51.7% during the 3rd quarter. Citigroup Inc. now owns 646,894 shares of the company’s stock valued at $16,043,000 after buying an additional 220,458 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Royal Bank Of Canada dropped their price target on shares of Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Thursday, January 22nd. Morgan Stanley set a $24.00 target price on Northern Oil and Gas and gave the stock an “underweight” rating in a research report on Friday, January 23rd. Finally, Mizuho set a $29.00 price target on Northern Oil and Gas in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Northern Oil and Gas has an average rating of “Hold” and a consensus price target of $29.29.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $27.64 on Friday. The firm’s 50 day moving average is $23.87 and its 200-day moving average is $23.70. The stock has a market capitalization of $2.70 billion, a P/E ratio of 83.76 and a beta of 1.01. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.10 and a quick ratio of 1.10. Northern Oil and Gas, Inc. has a 12-month low of $19.88 and a 12-month high of $32.62.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Wednesday, February 25th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.71 by $0.12. The business had revenue of $610.18 million during the quarter, compared to analyst estimates of $524.98 million. Northern Oil and Gas had a net margin of 1.57% and a return on equity of 19.27%. The business’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.11 earnings per share. Equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, March 30th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $1.80 annualized dividend and a dividend yield of 6.5%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 545.45%.

Northern Oil and Gas Company 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.