Bank of New York Mellon Corp increased its stake in shares of Northern Oil & Gas, Inc. (AMEX:NOG) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 707,647 shares of the energy company’s stock after buying an additional 2,329 shares during the period. Bank of New York Mellon Corp owned about 1.15% of Northern Oil & Gas worth $1,840,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of NOG. American Century Companies Inc. bought a new stake in Northern Oil & Gas during the first quarter valued at $522,000. Acadian Asset Management LLC increased its stake in Northern Oil & Gas by 713.9% in the first quarter. Acadian Asset Management LLC now owns 173,701 shares of the energy company’s stock valued at $451,000 after buying an additional 152,359 shares in the last quarter. Hartford Investment Management Co. bought a new stake in Northern Oil & Gas during the first quarter valued at $158,000. Finally, Teachers Advisors LLC increased its stake in Northern Oil & Gas by 13.7% in the fourth quarter. Teachers Advisors LLC now owns 109,180 shares of the energy company’s stock valued at $300,000 after buying an additional 13,158 shares in the last quarter.
Northern Oil & Gas, Inc. (AMEX NOG) opened at 1.15 on Friday. The company has a 50-day moving average of $1.43 and a 200-day moving average of $2.38. The company’s market cap is $70.78 million. Northern Oil & Gas, Inc. has a 52 week low of $1.05 and a 52 week high of $4.34.
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Several research firms have recently weighed in on NOG. Scotiabank reaffirmed a “hold” rating and set a $3.00 price target on shares of Northern Oil & Gas in a research note on Monday, April 3rd. Zacks Investment Research downgraded shares of Northern Oil & Gas from a “buy” rating to a “hold” rating in a research note on Wednesday, March 29th. Royal Bank Of Canada set a $4.00 price target on shares of Northern Oil & Gas and gave the company a “hold” rating in a research note on Tuesday, April 25th. ValuEngine downgraded shares of Northern Oil & Gas from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Capital One Financial Corporation downgraded shares of Northern Oil & Gas from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, June 21st. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $2.50.
Northern Oil & Gas Company Profile
Northern Oil and Gas, Inc is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and natural gas properties, primarily in the Bakken and Three Forks formations within the Williston Basin in North Dakota and Montana. The Company holds working interests in over 2,630 gross (204.3 net) producing wells, including over 2,630 wells targeting the Bakken and Three Forks formations and over two wells targeting other formations.
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