Northern Oil and Gas, Inc. $NOG Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in Northern Oil and Gas, Inc. (NYSE:NOG) by 10.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 485,091 shares of the company’s stock after buying an additional 44,680 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Northern Oil and Gas were worth $12,030,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. raised its stake in Northern Oil and Gas by 238.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 5,841 shares of the company’s stock valued at $145,000 after purchasing an additional 4,116 shares during the last quarter. Summit Global Investments acquired a new stake in Northern Oil and Gas during the 3rd quarter worth $220,000. EFG Asset Management North America Corp. grew its holdings in shares of Northern Oil and Gas by 1.2% during the third quarter. EFG Asset Management North America Corp. now owns 116,879 shares of the company’s stock worth $2,897,000 after buying an additional 1,343 shares in the last quarter. Oxbow Advisors LLC raised its position in shares of Northern Oil and Gas by 0.9% in the third quarter. Oxbow Advisors LLC now owns 219,949 shares of the company’s stock valued at $5,455,000 after buying an additional 2,018 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Northern Oil and Gas by 12.1% in the third quarter. Covestor Ltd now owns 6,510 shares of the company’s stock valued at $161,000 after buying an additional 705 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOG has been the topic of a number of recent research reports. Royal Bank Of Canada lowered 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 report on Tuesday, January 20th. Morgan Stanley set a $24.00 target price on shares of Northern Oil and Gas and gave the stock an “underweight” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Thursday, January 22nd. Finally, Mizuho set a $29.00 price target on Northern Oil and Gas in a report on Wednesday, January 21st. One research 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 given a Sell rating to the stock. Based on data from MarketBeat, Northern Oil and Gas has an average rating of “Hold” and an average price target of $29.29.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $25.52 on Wednesday. The company’s 50-day moving average is $23.11 and its two-hundred day moving average is $23.55. Northern Oil and Gas, Inc. has a 1-year low of $19.88 and a 1-year high of $36.16. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 14.42 and a beta of 1.01.

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.