SunTrust Banks Analysts Raise Earnings Estimates for Northern Oil & Gas, Inc. (NOG)

Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) – SunTrust Banks increased their FY2017 earnings per share (EPS) estimates for Northern Oil & Gas in a note issued to investors on Tuesday, according to Zacks Investment Research. SunTrust Banks analyst N. Dingmann now forecasts that the energy company will post earnings per share of $0.06 for the year, up from their previous forecast of $0.03.

Northern Oil & Gas (NYSEAMERICAN:NOG) last announced its quarterly earnings data on Wednesday, November 8th. The energy company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.05. The firm had revenue of $54.26 million during the quarter, compared to analyst estimates of $51.04 million. Northern Oil & Gas’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.04 earnings per share.

NOG has been the subject of several other reports. Zacks Investment Research upgraded Northern Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $1.00 target price for the company in a research report on Wednesday, October 11th. Imperial Capital set a $2.00 target price on Northern Oil & Gas and gave the stock a “hold” rating in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $1.75.

Northern Oil & Gas (NYSEAMERICAN:NOG) opened at $2.53 on Thursday. The stock has a market capitalization of $161.71, a PE ratio of 63.25 and a beta of 1.76. Northern Oil & Gas has a 12-month low of $0.63 and a 12-month high of $4.00.

Several large investors have recently added to or reduced their stakes in NOG. Geode Capital Management LLC lifted its holdings in shares of Northern Oil & Gas by 2.9% during the 1st quarter. Geode Capital Management LLC now owns 391,844 shares of the energy company’s stock valued at $1,018,000 after purchasing an additional 11,148 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Northern Oil & Gas by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 227,945 shares of the energy company’s stock valued at $319,000 after purchasing an additional 705 shares in the last quarter. Isthmus Partners LLC lifted its holdings in shares of Northern Oil & Gas by 60.7% during the 2nd quarter. Isthmus Partners LLC now owns 270,642 shares of the energy company’s stock valued at $379,000 after purchasing an additional 102,198 shares in the last quarter. Quantitative Investment Management LLC lifted its holdings in shares of Northern Oil & Gas by 11.3% during the 2nd quarter. Quantitative Investment Management LLC now owns 90,500 shares of the energy company’s stock valued at $126,000 after purchasing an additional 9,200 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Northern Oil & Gas by 33.4% during the 2nd quarter. Vanguard Group Inc. now owns 3,613,020 shares of the energy company’s stock valued at $5,058,000 after purchasing an additional 905,328 shares in the last quarter.

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About Northern Oil & Gas

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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