Northern Oil and Gas (NYSEAMERICAN:NOG) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Northern Oil and Gas (NYSEAMERICAN:NOG) from a hold rating to a sell rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “NORTHRN OIL & GAS, Inc. is an exploration and production company based in Wayzata, Minnesota. Northern Oil’s core area of focus is the Williston Basin, specifically the Mountrail County, North Dakota area Bakken Play. Northern Oil’s secondary objective is conventional, 3D driven, oil and gas exploration and development throughout the Rocky Mountain region. “

Other research analysts have also issued reports about the stock. Roth Capital upped their target price on shares of Northern Oil and Gas from $1.80 to $18.00 and gave the stock a buy rating in a research report on Monday, September 28th. Northland Securities reiterated a buy rating and issued a $10.00 target price on shares of Northern Oil and Gas in a research report on Friday, September 11th. TheStreet lowered shares of Northern Oil and Gas from a c rating to a d rating in a research report on Friday, August 7th. Wells Fargo & Company began coverage on shares of Northern Oil and Gas in a research report on Friday, September 25th. They issued an overweight rating and a $10.00 target price for the company. Finally, Seaport Global Securities began coverage on shares of Northern Oil and Gas in a research note on Monday, July 27th. They issued a buy rating and a $12.00 price target for the company. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Northern Oil and Gas presently has a consensus rating of Buy and a consensus target price of $14.17.

NOG opened at $4.28 on Tuesday. Northern Oil and Gas has a one year low of $3.35 and a one year high of $24.30.

Northern Oil and Gas (NYSEAMERICAN:NOG) last released its quarterly earnings results on Friday, November 6th. The energy company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12. The firm had revenue of $73.68 million for the quarter, compared to analysts’ expectations of $86.73 million.

Several large investors have recently modified their holdings of NOG. AQR Capital Management LLC purchased a new stake in shares of Northern Oil and Gas during the second quarter valued at approximately $30,000. AdvisorNet Financial Inc grew its holdings in shares of Northern Oil and Gas by 79.3% during the second quarter. AdvisorNet Financial Inc now owns 210,096 shares of the energy company’s stock valued at $176,000 after buying an additional 92,950 shares during the last quarter. Swiss National Bank grew its holdings in shares of Northern Oil and Gas by 25.6% during the second quarter. Swiss National Bank now owns 543,400 shares of the energy company’s stock valued at $456,000 after buying an additional 110,600 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Northern Oil and Gas during the second quarter valued at approximately $102,000. Finally, Serengeti Asset Management LP grew its holdings in shares of Northern Oil and Gas by 51.0% during the second quarter. Serengeti Asset Management LP now owns 700,000 shares of the energy company’s stock valued at $587,000 after buying an additional 236,276 shares during the last quarter.

About Northern Oil and Gas

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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