12th Street Asset Management Company LLC Boosts Stock Position in Northern Oil and Gas, Inc. $NOG

12th Street Asset Management Company LLC increased its stake in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 20.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 240,730 shares of the company’s stock after buying an additional 40,181 shares during the quarter. Northern Oil and Gas comprises 1.0% of 12th Street Asset Management Company LLC’s holdings, making the stock its 26th largest position. 12th Street Asset Management Company LLC owned 0.25% of Northern Oil and Gas worth $5,970,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOG. DLD Asset Management LP increased its stake in shares of Northern Oil and Gas by 42.9% in the 2nd quarter. DLD Asset Management LP now owns 25,000,000 shares of the company’s stock worth $708,750,000 after acquiring an additional 7,500,000 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Northern Oil and Gas by 6.3% in the second quarter. Westfield Capital Management Co. LP now owns 1,740,304 shares of the company’s stock valued at $49,338,000 after purchasing an additional 103,366 shares during the period. Tributary Capital Management LLC increased its position in Northern Oil and Gas by 146.3% during 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 last quarter. New York State Common Retirement Fund raised its stake in Northern Oil and Gas by 3.2% during the second quarter. New York State Common Retirement Fund now owns 1,127,257 shares of the company’s stock worth $31,958,000 after purchasing an additional 35,105 shares during the period. Finally, Jennison Associates LLC raised its stake in Northern Oil and Gas by 80.2% during the second quarter. Jennison Associates LLC now owns 924,629 shares of the company’s stock worth $26,213,000 after purchasing an additional 411,457 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $25.08 on Friday. Northern Oil and Gas, Inc. has a 12 month low of $19.88 and a 12 month high of $36.16. The company has a market cap of $2.45 billion, a P/E ratio of 14.17 and a beta of 1.01. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.05. The firm has a fifty day moving average price of $23.03 and a 200 day moving average price of $23.67.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOG. Morgan Stanley set a $24.00 price target on shares of Northern Oil and Gas and gave the stock an “underweight” rating in a report on Friday, January 23rd. Citigroup lowered their price objective on Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Thursday, January 22nd. Mizuho set a $29.00 target price on Northern Oil and Gas in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada decreased 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 research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Hold” and a consensus target price 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.