Channing Capital Management LLC Boosts Holdings in Northern Oil and Gas, Inc. $NOG

Channing Capital Management LLC raised its holdings in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 15.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,702,177 shares of the company’s stock after buying an additional 230,899 shares during the period. Channing Capital Management LLC owned about 1.74% of Northern Oil and Gas worth $42,214,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. First Horizon Corp purchased a new stake in shares of Northern Oil and Gas in the 3rd quarter worth $27,000. Laurel Wealth Advisors LLC grew its holdings in Northern Oil and Gas by 2,736.1% during the second quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock valued at $29,000 after purchasing an additional 985 shares during the period. Jones Financial Companies Lllp increased its position in Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after buying an additional 713 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock worth $43,000 after buying an additional 1,228 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Northern Oil and Gas by 85.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock valued at $44,000 after acquiring an additional 702 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NOG shares. Mizuho set a $29.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, January 21st. Royal Bank Of Canada decreased their price objective 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 restated a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Thursday, January 22nd. Finally, Morgan Stanley set a $24.00 price target on Northern Oil and Gas and gave the stock an “underweight” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $29.29.

Northern Oil and Gas Trading Up 1.1%

Shares of NOG opened at $28.16 on Friday. The firm has a market cap of $2.75 billion, a P/E ratio of 15.91 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 1 year low of $19.88 and a 1 year high of $35.11. The company has a 50 day simple moving average of $23.37 and a two-hundred day simple moving average of $23.62.

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.