Northern Oil & Gas, Inc. (NOG) Position Reduced by Penn Capital Management Co. Inc.

Penn Capital Management Co. Inc. decreased its stake in Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) by 56.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,193 shares of the energy company’s stock after selling 37,041 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Northern Oil & Gas were worth $77,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Crestview Partners III GP L.P. acquired a new position in Northern Oil & Gas in the fourth quarter worth $109,862,000. Meghalaya Partners L.P. boosted its stake in Northern Oil & Gas by 176.2% in the fourth quarter. Meghalaya Partners L.P. now owns 2,762,000 shares of the energy company’s stock worth $6,242,000 after purchasing an additional 1,762,000 shares in the last quarter. Teachers Advisors LLC boosted its stake in Northern Oil & Gas by 81.8% in the third quarter. Teachers Advisors LLC now owns 375,597 shares of the energy company’s stock worth $1,502,000 after purchasing an additional 169,011 shares in the last quarter. IFP Advisors Inc boosted its stake in Northern Oil & Gas by 92.4% in the fourth quarter. IFP Advisors Inc now owns 22,327 shares of the energy company’s stock worth $51,000 after purchasing an additional 10,725 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Northern Oil & Gas by 21.5% in the third quarter. Vanguard Group Inc. now owns 10,675,890 shares of the energy company’s stock worth $42,704,000 after purchasing an additional 1,891,771 shares in the last quarter.

In other Northern Oil & Gas news, major shareholder Crestview Partners Iii Gp, L.P sold 605,842 shares of the business’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $2.53, for a total value of $1,532,780.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Robert B. Rowling bought 1,000,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was acquired at an average cost of $2.23 per share, with a total value of $2,230,000.00. The disclosure for this purchase can be found here.

NYSEAMERICAN NOG opened at $2.27 on Wednesday. Northern Oil & Gas, Inc. has a 12 month low of $1.87 and a 12 month high of $4.49.

Northern Oil & Gas (NYSEAMERICAN:NOG) last released its quarterly earnings data on Thursday, May 9th. The energy company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The company had revenue of $132.68 million during the quarter, compared to analyst estimates of $142.86 million.

A number of equities research analysts have recently weighed in on NOG shares. Zacks Investment Research downgraded Northern Oil & Gas from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Imperial Capital set a $3.00 target price on Northern Oil & Gas and gave the stock a “hold” rating in a research report on Wednesday, January 23rd. Northland Securities set a $5.00 price objective on Northern Oil & Gas and gave the company a “buy” rating in a report on Tuesday, April 23rd. SunTrust Banks set a $5.00 price objective on Northern Oil & Gas and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, TheStreet upgraded Northern Oil & Gas from a “d” rating to a “c” rating in a report on Wednesday, March 13th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $3.92.

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About Northern Oil & Gas

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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