Jennison Associates LLC Increases Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Jennison Associates LLC increased its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 58.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 521,115 shares of the company’s stock after purchasing an additional 192,539 shares during the quarter. Jennison Associates LLC owned approximately 0.52% of Northern Oil and Gas worth $18,453,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NOG. Pathstone Holdings LLC boosted 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 worth $1,396,000 after buying an additional 5,524 shares during the last quarter. Natixis Advisors LLC boosted its position in Northern Oil and Gas by 10.0% in the third 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 last quarter. Empowered Funds LLC boosted its position in Northern Oil and Gas by 7.1% in the third 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 last quarter. Royce & Associates LP increased its position in shares of Northern Oil and Gas by 2.2% during the 3rd 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 raised its stake in shares of Northern Oil and Gas by 15.6% during the 3rd quarter. Aptus Capital Advisors LLC now owns 190,068 shares of the company’s stock worth $6,730,000 after purchasing an additional 25,580 shares during the period. 98.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NOG shares. Mizuho initiated coverage on shares of Northern Oil and Gas in a report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price objective for the company. Royal Bank of Canada cut shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $43.00 to $45.00 in a report on Wednesday. Morgan Stanley reduced their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group initiated coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas presently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Insiders Place Their Bets

In related news, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now owns 107,876 shares of the company’s stock, valued at $4,153,226. This represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Erik J. Romslo sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the sale, the insider now owns 105,713 shares in the company, valued at $3,727,440.38. The trade was a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,508 shares of company stock worth $248,113 in the last ninety days. 2.80% of the stock is currently owned by insiders.

Northern Oil and Gas Price Performance

NOG stock opened at $43.21 on Friday. The firm has a 50 day moving average of $38.10 and a 200-day moving average of $38.55. The firm has a market capitalization of $4.31 billion, a P/E ratio of 5.08 and a beta of 1.80. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $43.80. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The firm had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. During the same period last year, the firm earned $1.73 EPS. The business’s quarterly revenue was up 140.0% compared to the same quarter last year. As a group, sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.42 earnings per share for the current fiscal year.

Northern Oil and Gas Company Profile

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.