Northern Oil & Gas (NOG) Shares Gap Down to $2.93

Shares of Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) gapped down prior to trading on Friday . The stock had previously closed at $2.99, but opened at $2.93. Northern Oil & Gas shares last traded at $2.87, with a volume of 5011600 shares.

A number of analysts have recently commented on the company. Stifel Nicolaus set a $4.00 target price on Northern Oil & Gas and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Zacks Investment Research upgraded Northern Oil & Gas from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research note on Thursday, July 12th. Northland Securities set a $6.00 target price on Northern Oil & Gas and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Finally, Capital One Financial upgraded Northern Oil & Gas from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 31st. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Northern Oil & Gas currently has a consensus rating of “Buy” and a consensus target price of $4.17.

Northern Oil & Gas (NYSEAMERICAN:NOG) last posted its quarterly earnings results on Thursday, August 9th. The energy company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $96.78 million during the quarter, compared to analyst estimates of $95.20 million.

A number of hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. increased its stake in Northern Oil & Gas by 151.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,509 shares of the energy company’s stock worth $112,000 after acquiring an additional 21,374 shares during the last quarter. Northern Trust Corp grew its stake in shares of Northern Oil & Gas by 19.9% in the first quarter. Northern Trust Corp now owns 173,931 shares of the energy company’s stock valued at $345,000 after buying an additional 28,886 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Northern Oil & Gas by 42.9% in the second quarter. Dimensional Fund Advisors LP now owns 105,965 shares of the energy company’s stock valued at $334,000 after buying an additional 31,803 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in shares of Northern Oil & Gas in the second quarter valued at $120,000. Finally, CAPROCK Group Inc. acquired a new stake in shares of Northern Oil & Gas in the third quarter valued at $156,000.

Northern Oil & Gas Company Profile (NYSEAMERICAN:NOG)

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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