Shares of Northern Oil & Gas, Inc. (NYSEMKT:NOG) have earned an average rating of “Hold” from the five research firms that are presently covering the firm. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.00.
Separately, Zacks Investment Research raised shares of Northern Oil & Gas from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a report on Wednesday, June 22nd.
Shares of Northern Oil & Gas (NYSEMKT:NOG) opened at 2.68 on Thursday. Northern Oil & Gas has a 52 week low of $1.99 and a 52 week high of $5.95. The stock’s market cap is $163.99 million. The company’s 50-day moving average is $3.19 and its 200 day moving average is $4.16.
Northern Oil & Gas (NYSEMKT:NOG) last issued its earnings results on Thursday, August 4th. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.05. The firm earned $32.10 million during the quarter, compared to analysts’ expectations of $55.82 million. The firm’s revenue was down 21.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. Analysts forecast that Northern Oil & Gas will post $0.12 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the company. Societe Generale purchased a new position in Northern Oil & Gas during the second quarter worth $208,000. California Public Employees Retirement System raised its position in Northern Oil & Gas by 0.4% in the second quarter. California Public Employees Retirement System now owns 941,800 shares of the company’s stock worth $4,351,000 after buying an additional 3,300 shares in the last quarter. Bank of New York Mellon Corp raised its position in Northern Oil & Gas by 7.0% in the second quarter. Bank of New York Mellon Corp now owns 780,414 shares of the company’s stock worth $3,605,000 after buying an additional 50,740 shares in the last quarter. Arizona State Retirement System raised its position in Northern Oil & Gas by 4.7% in the first quarter. Arizona State Retirement System now owns 26,889 shares of the company’s stock worth $107,000 after buying an additional 1,200 shares in the last quarter. Finally, Oxford Asset Management purchased a new position in Northern Oil & Gas during the second quarter worth $202,000.
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.
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