Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) gapped up prior to trading on Wednesday . The stock had previously closed at $2.30, but opened at $2.27. Northern Oil & Gas shares last traded at $2.16, with a volume of 113219 shares traded.
A number of research firms recently weighed in on NOG. Zacks Investment Research cut Northern Oil & Gas from a “buy” rating to a “hold” rating in a report on Friday, May 17th. Northland Securities set a $5.00 price target on Northern Oil & Gas and gave the stock a “buy” rating in a report on Tuesday, April 23rd. SunTrust Banks set a $5.00 price target on Northern Oil & Gas and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, TheStreet upgraded Northern Oil & Gas from a “d” rating to a “c” rating in a report on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Northern Oil & Gas has a consensus rating of “Buy” and a consensus price target of $3.92.
Northern Oil & Gas (NYSEAMERICAN:NOG) last released its quarterly earnings results on Thursday, May 9th. The energy company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The company had revenue of $132.68 million during the quarter, compared to analyst estimates of $142.86 million.
In related news, major shareholder Robert B. Rowling bought 1,000,000 shares of Northern Oil & Gas stock in a transaction that occurred on Thursday, May 16th. The shares were purchased at an average price of $2.23 per share, with a total value of $2,230,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
A number of hedge funds have recently bought and sold shares of the stock. First National Trust Co purchased a new position in shares of Northern Oil & Gas during the 4th quarter worth $28,000. Virtu Financial LLC purchased a new position in shares of Northern Oil & Gas during the 1st quarter worth $32,000. Bayesian Capital Management LP purchased a new position in shares of Northern Oil & Gas during the 1st quarter worth $45,000. NumerixS Investment Technologies Inc purchased a new position in shares of Northern Oil & Gas during the 4th quarter worth $46,000. Finally, Great West Life Assurance Co. Can purchased a new position in shares of Northern Oil & Gas during the 4th quarter worth $48,000.
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About Northern Oil & Gas (NYSEAMERICAN:NOG)
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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