NJ State Employees Deferred Compensation Plan raised its holdings in Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) by 40.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,000 shares of the energy company’s stock after buying an additional 40,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Northern Oil & Gas were worth $270,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in NOG. FMR LLC increased its stake in shares of Northern Oil & Gas by 92.5% during the first quarter. FMR LLC now owns 4,353,200 shares of the energy company’s stock worth $11,928,000 after purchasing an additional 2,092,100 shares during the period. Dimensional Fund Advisors LP increased its stake in Northern Oil & Gas by 57.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,995,137 shares of the energy company’s stock worth $11,290,000 after acquiring an additional 1,824,622 shares during the period. Marshall Wace LLP bought a new position in Northern Oil & Gas during the 1st quarter worth $2,321,000. Hartree Partners LP bought a new position in Northern Oil & Gas during the 1st quarter worth $1,507,000. Finally, Columbia Pacific Advisors LLC bought a new position in Northern Oil & Gas during the 1st quarter worth $1,173,000.
Shares of NOG stock traded down $0.03 during trading hours on Monday, reaching $1.47. The company’s stock had a trading volume of 304,200 shares, compared to its average volume of 5,322,021. Northern Oil & Gas, Inc. has a fifty-two week low of $1.42 and a fifty-two week high of $4.49.
Northern Oil & Gas (NYSEAMERICAN:NOG) last issued its earnings results on Thursday, August 1st. The energy company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. The business had revenue of $186.44 million during the quarter, compared to analyst estimates of $153.11 million.
In other news, major shareholder Robert B. Rowling acquired 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were bought at an average price of $2.23 per share, with a total value of $2,230,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Robert B. Rowling acquired 1,000,060 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average cost of $2.06 per share, for a total transaction of $2,060,123.60. The disclosure for this purchase can be found here.
A number of research firms have commented on NOG. Northland Securities set a $5.00 price objective on Northern Oil & Gas and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Zacks Investment Research upgraded Northern Oil & Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $3.88.
Northern Oil & Gas Company Profile
Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. The company primarily holds interests in the Bakken and Three Forks formations in the Williston Basin of North Dakota and Montana.
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