Envestnet Asset Management Inc. Boosts Position in Northern Oil and Gas, Inc. $NOG

Envestnet Asset Management Inc. grew its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 10.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 485,091 shares of the company’s stock after acquiring an additional 44,680 shares during the period. Envestnet Asset Management Inc. owned about 0.50% of Northern Oil and Gas worth $12,030,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC raised its holdings in shares of Northern Oil and Gas by 55.1% during the first quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $1,233,000 after purchasing an additional 14,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Northern Oil and Gas by 3.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,334 shares of the company’s stock worth $1,763,000 after purchasing an additional 1,865 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Northern Oil and Gas by 181.0% during the 1st 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. Empowered Funds LLC lifted its holdings 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 valued at $1,972,000 after buying an additional 3,124 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in shares of Northern Oil and Gas by 41.8% in the 1st quarter. Intech Investment Management LLC now owns 46,453 shares of the company’s stock valued at $1,404,000 after buying an additional 13,690 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Stock Down 1.7%

Shares of NOG opened at $25.52 on Wednesday. The firm has a market cap of $2.49 billion, a P/E ratio of 14.42 and a beta of 1.01. Northern Oil and Gas, Inc. has a 12 month low of $19.88 and a 12 month high of $36.16. The stock’s 50 day moving average is $23.11 and its two-hundred day moving average is $23.55. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.05.

Analyst Ratings Changes

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

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.