Jennison Associates LLC Has $18.45 Million Stock Position in Northern Oil and Gas, Inc. (NYSE:NOG)

Jennison Associates LLC boosted its stake in Northern Oil and Gas, Inc. (NYSE:NOG - Free Report) by 58.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 521,115 shares of the company's stock after buying an additional 192,539 shares during the quarter. Jennison Associates LLC owned approximately 0.52% of Northern Oil and Gas worth $18,453,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Signaturefd LLC raised its position in Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company's stock valued at $30,000 after acquiring an additional 427 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Northern Oil and Gas by 91.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company's stock valued at $41,000 after purchasing an additional 528 shares in the last quarter. Quarry LP lifted its stake in shares of Northern Oil and Gas by 338.8% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company's stock valued at $42,000 after purchasing an additional 874 shares during the last quarter. Covestor Ltd lifted its stake in shares of Northern Oil and Gas by 122.6% in the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company's stock valued at $67,000 after purchasing an additional 1,048 shares during the last quarter. Finally, CWM LLC boosted its holdings in Northern Oil and Gas by 24.8% in the third quarter. CWM LLC now owns 2,237 shares of the company's stock worth $79,000 after purchasing an additional 444 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company's stock.

Northern Oil and Gas Price Performance

NYSE NOG traded up $0.86 on Friday, reaching $43.20. The company's stock had a trading volume of 1,309,713 shares, compared to its average volume of 1,199,331. The firm has a market cap of $4.31 billion, a PE ratio of 5.19 and a beta of 1.80. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $43.80. The business has a 50-day moving average price of $38.28 and a 200 day moving average price of $38.57.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.20. The business had revenue of $753.64 million during the quarter, compared to analysts' expectations of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. Northern Oil and Gas's quarterly revenue was up 140.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.73 EPS. Sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.42 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley reduced their price target on Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating for the company in a research report on Monday, September 16th. Mizuho assumed coverage on Northern Oil and Gas in a research report on Thursday, September 19th. They issued an "outperform" rating and a $47.00 price target on the stock. StockNews.com cut Northern Oil and Gas from a "hold" rating to a "sell" rating in a research report on Thursday, August 1st. Royal Bank of Canada lowered shares of Northern Oil and Gas from an "outperform" rating to a "sector perform" rating and boosted their target price for the stock from $43.00 to $45.00 in a research report on Wednesday. Finally, Piper Sandler increased their price target on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $47.50.

Insiders Place Their Bets

In other news, insider Erik J. Romslo sold 1,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction of $52,890.00. Following the sale, the insider now owns 105,713 shares in the company, valued at approximately $3,727,440.38. This represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Adam A. Dirlam sold 2,508 shares of the firm's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the sale, the president now owns 107,876 shares of the company's stock, valued at approximately $4,153,226. This trade represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,508 shares of company stock worth $248,113 over the last three months. 2.80% of the stock is currently owned by corporate insiders.

Northern Oil and Gas 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. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.