Jennison Associates LLC Acquires 192,539 Shares of Northern Oil and Gas, Inc. (NYSE:NOG)

Jennison Associates LLC boosted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 58.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 521,115 shares of the company’s stock after purchasing an additional 192,539 shares during the period. Jennison Associates LLC’s holdings in Northern Oil and Gas were worth $18,453,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Pathstone Holdings LLC lifted its stake in shares of Northern Oil and Gas by 16.3% in the 3rd quarter. Pathstone Holdings LLC now owns 39,381 shares of the company’s stock valued at $1,396,000 after acquiring an additional 5,524 shares during the last quarter. Natixis Advisors LLC increased its stake in Northern Oil and Gas by 10.0% in the 3rd quarter. Natixis Advisors LLC now owns 90,715 shares of the company’s stock worth $3,212,000 after purchasing an additional 8,259 shares during the period. Empowered Funds LLC increased its stake in Northern Oil and Gas by 7.1% in the 3rd quarter. Empowered Funds LLC now owns 62,094 shares of the company’s stock worth $2,199,000 after purchasing an additional 4,104 shares during the period. Royce & Associates LP lifted its position in Northern Oil and Gas by 2.2% in the third quarter. Royce & Associates LP now owns 341,849 shares of the company’s stock valued at $12,105,000 after purchasing an additional 7,390 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its stake in shares of Northern Oil and Gas by 15.6% during the third quarter. Aptus Capital Advisors LLC now owns 190,068 shares of the company’s stock valued at $6,730,000 after purchasing an additional 25,580 shares during the period. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Price Performance

Shares of NOG opened at $43.21 on Friday. The company has a 50 day moving average of $38.10 and a two-hundred day moving average of $38.55. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 5.08 and a beta of 1.80. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $43.80.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. During the same quarter last year, the company earned $1.73 earnings per share. The company’s quarterly revenue was up 140.0% on a year-over-year basis. As a group, analysts predict that Northern Oil and Gas, Inc. will post 5.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of Northern Oil and Gas stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction of $52,890.00. Following the completion of the sale, the insider now owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. The trade was a 1.40 % decrease in their position. The sale 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 business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the sale, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,508 shares of company stock worth $248,113. 2.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports 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. Morgan Stanley lowered their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Royal Bank of Canada lowered Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $43.00 to $45.00 in a research report on Wednesday. Mizuho assumed coverage on shares of Northern Oil and Gas in a report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

About Northern Oil and Gas

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.