Wedbush Securities Inc. bought a new stake in shares of Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 81,200 shares of the energy company’s stock, valued at approximately $166,000.
A number of other institutional investors have also recently made changes to their positions in NOG. Vanguard Group Inc. boosted its stake in shares of Northern Oil & Gas by 33.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,613,020 shares of the energy company’s stock valued at $5,058,000 after buying an additional 905,328 shares during the period. Gen IV Investment Opportunities LLC purchased a new position in shares of Northern Oil & Gas in the 3rd quarter valued at about $989,000. Ameriprise Financial Inc. boosted its stake in shares of Northern Oil & Gas by 0.3% in 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 period. Virtu Financial LLC boosted its stake in shares of Northern Oil & Gas by 23.7% in the 4th quarter. Virtu Financial LLC now owns 167,968 shares of the energy company’s stock valued at $344,000 after buying an additional 32,180 shares during the period. Finally, SNS Financial Group LLC purchased a new position in shares of Northern Oil & Gas in the 4th quarter valued at about $103,000.
Several equities analysts have recently issued reports on the company. Imperial Capital set a $2.00 price objective on Northern Oil & Gas and gave the company a “hold” rating in a research note on Thursday, December 21st. Zacks Investment Research cut Northern Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $1.75.
Northern Oil & Gas (NYSEAMERICAN:NOG) last posted its earnings results on Thursday, February 22nd. The energy company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.07. The business had revenue of $72.48 million for the quarter, compared to analysts’ expectations of $65.00 million. Northern Oil & Gas’s revenue for the quarter was up 54.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 EPS.
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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.
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