Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) shares gapped down before the market opened on Thursday . The stock had previously closed at $2.10, but opened at $1.90. Northern Oil & Gas shares last traded at $1.73, with a volume of 2270204 shares trading hands.
Several analysts have commented on the stock. Imperial Capital set a $2.00 target price on shares of Northern Oil & Gas and gave the stock a “hold” rating in a research report on Thursday, December 21st. Zacks Investment Research downgraded shares of Northern Oil & Gas from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 28th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $2.06.
Northern Oil & Gas (NYSEAMERICAN:NOG) last issued its earnings results on Thursday, February 22nd. The energy company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.07. The company had revenue of $72.48 million during the quarter, compared to analysts’ expectations of $65.00 million. The company’s quarterly revenue was up 54.0% on a year-over-year basis. During the same period last year, the business posted $0.04 earnings per share.
Several hedge funds have recently added to or reduced their stakes in NOG. Advisors Preferred LLC boosted its position in Northern Oil & Gas by 628.9% during the fourth quarter. Advisors Preferred LLC now owns 56,571 shares of the energy company’s stock worth $116,000 after acquiring an additional 48,810 shares during the last quarter. Wedbush Securities Inc. acquired a new position in shares of Northern Oil & Gas in the 4th quarter valued at $166,000. SNS Financial Group LLC acquired a new position in shares of Northern Oil & Gas in the 4th quarter valued at $103,000. Virtu Financial LLC boosted its holdings in shares of Northern Oil & Gas by 23.7% in the 4th quarter. Virtu Financial LLC now owns 167,968 shares of the energy company’s stock valued at $344,000 after purchasing an additional 32,180 shares during the last quarter. Finally, Gen IV Investment Opportunities LLC acquired a new position in shares of Northern Oil & Gas in the 3rd quarter valued at $989,000.
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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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