Northern Oil & Gas, Inc. (NYSEMKT:NOG) has received an average rating of “Hold” from the five research firms that are covering the company. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $5.00.
Separately, Zacks Investment Research cut shares of Northern Oil & Gas from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th.
Shares of Northern Oil & Gas (NYSEMKT:NOG) traded up 1.09% during mid-day trading on Thursday, hitting $2.78. 2,096,628 shares of the stock traded hands. Northern Oil & Gas has a 1-year low of $1.99 and a 1-year high of $5.95. The company’s market capitalization is $170.11 million. The company’s 50-day moving average price is $3.26 and its 200 day moving average price is $4.18.
Northern Oil & Gas (NYSEMKT:NOG) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. The company earned $32.10 million during the quarter, compared to the consensus estimate of $55.82 million. The business’s revenue was down 21.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 EPS. Equities research analysts forecast that Northern Oil & Gas will post $0.12 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Pine River Capital Management L.P. bought a new position in Northern Oil & Gas during the second quarter valued at about $3,544,000. Spark Investment Management LLC raised its position in Northern Oil & Gas by 812.2% in the first quarter. Spark Investment Management LLC now owns 646,400 shares of the company’s stock valued at $2,579,000 after buying an additional 575,542 shares in the last quarter. EAM Investors LLC bought a new position in Northern Oil & Gas during the second quarter valued at about $1,288,000. Highbridge Capital Management LLC bought a new position in Northern Oil & Gas during the second quarter valued at about $889,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Northern Oil & Gas during the second quarter valued at about $479,000.
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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