Northern Oil and Gas, Inc. $NOG Stake Increased by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its holdings in Northern Oil and Gas, Inc. (NYSE:NOG) by 13.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 378,810 shares of the company’s stock after buying an additional 43,875 shares during the period. Public Sector Pension Investment Board owned about 0.39% of Northern Oil and Gas worth $9,394,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First Horizon Corp purchased a new stake in Northern Oil and Gas in the 3rd quarter worth about $27,000. Laurel Wealth Advisors LLC increased its holdings in shares of Northern Oil and Gas by 2,736.1% in the 2nd 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 lifted its position in shares of 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 purchasing an additional 713 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Northern Oil and Gas by 315.7% in the second quarter. IFP Advisors Inc now owns 1,351 shares of the company’s stock worth $38,000 after purchasing an additional 1,026 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Northern Oil and Gas by 429.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock worth $43,000 after purchasing an additional 1,228 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Citigroup dropped their price objective on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, October 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Thursday, January 22nd. Royal Bank Of Canada dropped their price target 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 note on Tuesday, January 20th. Mizuho set a $29.00 price objective on Northern Oil and Gas in a report on Wednesday, January 21st. Finally, Morgan Stanley set a $24.00 target price on Northern Oil and Gas and gave the company an “underweight” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.29.

Northern Oil and Gas Stock Up 3.4%

Northern Oil and Gas stock opened at $25.94 on Tuesday. The company has a market capitalization of $2.53 billion, a P/E ratio of 14.66 and a beta of 1.01. The firm’s fifty day simple moving average is $23.09 and its 200-day simple 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. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $36.16.

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.