Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) – Imperial Capital lowered their Q1 2019 earnings per share estimates for Northern Oil & Gas in a research report issued on Wednesday, March 13th. Imperial Capital analyst J. Wangler now expects that the energy company will post earnings per share of $0.09 for the quarter, down from their prior estimate of $0.11. Imperial Capital has a “Hold” rating and a $3.00 price objective on the stock. Imperial Capital also issued estimates for Northern Oil & Gas’ Q2 2019 earnings at $0.10 EPS, Q3 2019 earnings at $0.11 EPS, Q4 2019 earnings at $0.12 EPS, FY2019 earnings at $0.43 EPS and FY2020 earnings at $0.45 EPS.
NOG has been the subject of a number of other reports. Zacks Investment Research lowered shares of Northern Oil & Gas from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th. SunTrust Banks reiterated a “buy” rating and set a $4.00 target price on shares of Northern Oil & Gas in a research note on Thursday, November 29th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $4.17.
Northern Oil & Gas (NYSEAMERICAN:NOG) last announced its earnings results on Tuesday, March 12th. The energy company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.11. The company had revenue of $152.57 million for the quarter, compared to analysts’ expectations of $159.29 million.
Several hedge funds have recently modified their holdings of NOG. Crestview Partners III GP L.P. bought a new stake in shares of Northern Oil & Gas during the 4th quarter valued at $109,862,000. Millennium Management LLC grew its position in shares of Northern Oil & Gas by 9,921.3% during the 4th quarter. Millennium Management LLC now owns 11,124,026 shares of the energy company’s stock valued at $25,140,000 after acquiring an additional 11,013,022 shares during the period. BlackRock Inc. boosted its holdings in Northern Oil & Gas by 59.3% in the 3rd quarter. BlackRock Inc. now owns 13,330,385 shares of the energy company’s stock worth $53,321,000 after buying an additional 4,961,556 shares during the period. Caymus Capital Partners L.P. bought a new position in Northern Oil & Gas in the 3rd quarter worth $14,392,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Northern Oil & Gas by 2,892.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,170,515 shares of the energy company’s stock worth $12,681,000 after buying an additional 3,064,550 shares during the period.
In other news, major shareholder Crestview Partners Iii Gp, L.P sold 605,842 shares of the business’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $2.53, for a total transaction of $1,532,780.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 10,147,584 shares of company stock valued at $27,248,208.
Northern Oil & Gas Company Profile
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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