Picton Mahoney Asset Management Invests $510,000 in Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG)

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Picton Mahoney Asset Management bought a new position in Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 263,900 shares of the energy company’s stock, valued at approximately $510,000. Picton Mahoney Asset Management owned approximately 0.07% of Northern Oil & Gas as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in Northern Oil & Gas by 57.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,995,137 shares of the energy company’s stock valued at $11,290,000 after purchasing an additional 1,824,622 shares in the last quarter. FMR LLC raised its stake in Northern Oil & Gas by 92.5% during the first quarter. FMR LLC now owns 4,353,200 shares of the energy company’s stock valued at $11,928,000 after purchasing an additional 2,092,100 shares in the last quarter. Spark Investment Management LLC raised its stake in Northern Oil & Gas by 17.8% during the first quarter. Spark Investment Management LLC now owns 2,401,900 shares of the energy company’s stock valued at $6,581,000 after purchasing an additional 362,500 shares in the last quarter. Columbia Pacific Advisors LLC raised its stake in Northern Oil & Gas by 226.1% during the second quarter. Columbia Pacific Advisors LLC now owns 1,396,202 shares of the energy company’s stock valued at $2,733,000 after purchasing an additional 968,102 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Northern Oil & Gas during the first quarter valued at $2,321,000.

In other Northern Oil & Gas news, major shareholder Robert B. Rowling bought 1,000,060 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were bought at an average cost of $2.06 per share, for a total transaction of $2,060,123.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Robert B. Rowling bought 1,508,382 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $1.55 per share, for a total transaction of $2,337,992.10. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 3,493,542 shares of company stock worth $5,974,276.

NOG has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Northern Oil & Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Northland Securities set a $5.00 price target on shares of Northern Oil & Gas and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $3.88.

Shares of NYSEAMERICAN NOG traded down $0.11 during mid-day trading on Friday, reaching $1.68. The company had a trading volume of 8,316,237 shares, compared to its average volume of 5,459,398. Northern Oil & Gas, Inc. has a 52 week low of $1.40 and a 52 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The business had revenue of $186.44 million for the quarter, compared to the consensus estimate of $153.11 million.

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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Institutional Ownership by Quarter for Northern Oil & Gas (NYSEAMERICAN:NOG)

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