Northern Oil & Gas (NOG) Bonds Rise 0.7% During Trading

An issue of Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) bonds rose 0.7% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 8% coupon and is set to mature on June 1, 2020. The bonds in the issue are now trading at $90.88 and were trading at $85.38 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its share price.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Northern Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $1.00 price objective on the stock in a research report on Wednesday, October 11th. Imperial Capital set a $2.00 price objective on shares of Northern Oil & Gas and gave the company a “hold” rating in a research report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Northern Oil & Gas currently has a consensus rating of “Hold” and a consensus target price of $1.75.

Northern Oil & Gas, Inc. (NOG) traded down $0.08 during mid-day trading on Friday, hitting $2.21. 2,490,554 shares of the company traded hands, compared to its average volume of 2,265,120. Northern Oil & Gas, Inc. has a fifty-two week low of $0.63 and a fifty-two week high of $3.55. The firm has a market capitalization of $115.18, a P/E ratio of 57.25 and a beta of 1.76.

Northern Oil & Gas (NYSEAMERICAN:NOG) last released its quarterly earnings results on Wednesday, November 8th. The energy company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The business had revenue of $54.26 million during the quarter, compared to analyst estimates of $51.04 million. During the same quarter last year, the company posted $0.04 earnings per share. The company’s revenue was up 30.1% on a year-over-year basis.

A number of institutional investors have recently made changes to their positions in the business. Gen IV Investment Opportunities LLC acquired a new stake in Northern Oil & Gas during the third quarter worth about $989,000. Virtu KCG Holdings LLC grew its stake in Northern Oil & Gas by 237.4% during the second quarter. Virtu KCG Holdings LLC now owns 148,902 shares of the energy company’s stock worth $208,000 after buying an additional 104,769 shares in the last quarter. Vanguard Group Inc. grew its stake in Northern Oil & Gas by 33.4% during the second quarter. Vanguard Group Inc. now owns 3,613,020 shares of the energy company’s stock worth $5,058,000 after buying an additional 905,328 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Northern Oil & Gas by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 227,945 shares of the energy company’s stock worth $319,000 after buying an additional 705 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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