Shares of Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) have been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $2.00.
A number of equities research analysts have recently weighed in on the stock. Imperial Capital set a $2.00 price objective on shares of Northern Oil & Gas and gave the company a “hold” rating in a report on Thursday, December 21st. Zacks Investment Research lowered shares of Northern Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Wednesday.
Several hedge funds and other institutional investors have recently made changes to their positions in NOG. Vanguard Group Inc. raised its position in shares of Northern Oil & Gas by 33.4% in the second quarter. Vanguard Group Inc. now owns 3,613,020 shares of the energy company’s stock valued at $5,058,000 after buying an additional 905,328 shares during the last quarter. Gen IV Investment Opportunities LLC purchased a new stake in Northern Oil & Gas during the third quarter worth approximately $989,000. Isthmus Partners LLC grew its stake in Northern Oil & Gas by 60.7% during the second quarter. Isthmus Partners LLC now owns 270,642 shares of the energy company’s stock worth $379,000 after buying an additional 102,198 shares during the period. 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 during the period. Finally, 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 during the period.
Northern Oil & Gas (NYSEAMERICAN:NOG) traded up $0.03 during trading hours on Thursday, hitting $2.91. 2,070,000 shares of the company were exchanged, compared to its average volume of 2,070,000. The stock has a market cap of $194.45, a PE ratio of 72.75 and a beta of 1.76. Northern Oil & Gas has a 1 year low of $0.63 and a 1 year high of $4.00.
Northern Oil & Gas (NYSEAMERICAN:NOG) last issued 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 analysts’ expectations of $51.04 million. During the same period in the prior year, the business earned $0.04 EPS. The business’s quarterly revenue was up 30.1% on a year-over-year basis.
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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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