Brokers Issue Forecasts for Northern Oil & Gas, Inc.’s FY2018 Earnings (NOG)

Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) – Capital One Financial raised their FY2018 EPS estimates for shares of Northern Oil & Gas in a research report issued on Wednesday. Capital One Financial analyst P. Johnston now forecasts that the energy company will post earnings of $0.24 per share for the year, up from their previous estimate of $0.17.

NOG has been the subject of a number of other research reports. Zacks Investment Research raised shares of Northern Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $1.00 price objective for the company in a research note on Wednesday, October 11th. Imperial Capital initiated coverage on shares of Northern Oil & Gas in a research note on Tuesday, October 3rd. They set an “in-line” rating and a $1.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $1.75.

Northern Oil & Gas (NYSEAMERICAN:NOG) traded down $0.02 during midday trading on Thursday, hitting $1.68. 1,120,000 shares of the stock were exchanged, compared to its average volume of 1,480,000. Northern Oil & Gas has a one year low of $0.63 and a one year high of $4.00. The firm has a market cap of $112.26, a P/E ratio of 42.00 and a beta of 1.76.

Northern Oil & Gas (NYSEAMERICAN:NOG) last released its earnings results on Wednesday, November 8th. The energy company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.05. The firm had revenue of $54.26 million during the quarter, compared to analysts’ expectations of $51.04 million. Northern Oil & Gas’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same quarter last year, the company posted $0.04 earnings per share.

A number of large investors have recently modified their holdings of NOG. Quantitative Investment Management LLC boosted its stake in shares of Northern Oil & Gas by 11.3% during the 2nd quarter. Quantitative Investment Management LLC now owns 90,500 shares of the energy company’s stock valued at $126,000 after buying an additional 9,200 shares during the last quarter. Virtu KCG Holdings LLC boosted its stake in shares of Northern Oil & Gas by 237.4% during the 2nd quarter. Virtu KCG Holdings LLC now owns 148,902 shares of the energy company’s stock valued at $208,000 after buying an additional 104,769 shares during the last quarter. LMR Partners LLP purchased a new position in shares of Northern Oil & Gas during the 2nd quarter valued at approximately $226,000. Ameriprise Financial Inc. boosted its stake in shares of Northern Oil & Gas by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 227,945 shares of the energy company’s stock valued at $319,000 after buying an additional 705 shares during the last quarter. Finally, Isthmus Partners LLC boosted its stake in shares of Northern Oil & Gas by 60.7% during the 2nd quarter. Isthmus Partners LLC now owns 270,642 shares of the energy company’s stock valued at $379,000 after buying an additional 102,198 shares during the last quarter.

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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.

Earnings History and Estimates for Northern Oil & Gas (NYSEAMERICAN:NOG)

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