Shares of Northern Oil & Gas, Inc. (AMEX:NOG) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $1.50.
Several equities analysts have weighed in on NOG shares. Imperial Capital started coverage on Northern Oil & Gas in a report on Tuesday, October 3rd. They issued an “in-line” rating and a $1.00 price objective for the company. Zacks Investment Research cut Northern Oil & Gas from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Royal Bank Of Canada set a $2.00 price target on Northern Oil & Gas and gave the stock a “hold” rating in a report on Thursday, August 24th.
Shares of Northern Oil & Gas (AMEX NOG) traded up 10.563% on Friday, hitting $0.785. The company had a trading volume of 740,434 shares. The company’s market capitalization is $48.45 million. Northern Oil & Gas has a 12-month low of $0.63 and a 12-month high of $4.00. The firm has a 50-day moving average price of $0.82 and a 200 day moving average price of $1.31.
Northern Oil & Gas (AMEX:NOG) last announced its quarterly earnings data on Tuesday, August 8th. The energy company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.24. The company had revenue of $64.90 million during the quarter, compared to analyst estimates of $48.06 million. Northern Oil & Gas’s revenue was up 102.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. Equities analysts expect that Northern Oil & Gas will post $0.01 EPS for the current year.
Several institutional investors have recently bought and sold shares of NOG. Ameriprise Financial Inc. increased its holdings in Northern Oil & Gas by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 227,945 shares of the energy company’s stock worth $319,000 after purchasing an additional 705 shares in the last quarter. Prudential Financial Inc. increased its holdings in Northern Oil & Gas by 2.1% in the 1st quarter. Prudential Financial Inc. now owns 74,229 shares of the energy company’s stock worth $193,000 after purchasing an additional 1,500 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Northern Oil & Gas by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 331,722 shares of the energy company’s stock worth $862,000 after purchasing an additional 1,555 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Northern Oil & Gas by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 707,647 shares of the energy company’s stock worth $1,840,000 after purchasing an additional 2,329 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Northern Oil & Gas by 2.2% in the 1st quarter. Wellington Management Group LLP now owns 230,214 shares of the energy company’s stock worth $598,000 after purchasing an additional 4,988 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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