Northern Oil and Gas (NOG) Bonds Rise 2% During Trading

An issue of Northern Oil and Gas Inc. (NYSEAMERICAN:NOG) bonds rose 2% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 8% coupon and is set to mature on June 1, 2020. The bonds in the issue are now trading at $97.00 and were trading at $95.50 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its share price.

Several brokerages have recently weighed in on NOG. Imperial Capital set a $2.00 price objective on shares of Northern Oil and Gas and gave the company a “hold” rating in a research report on Thursday, December 21st. Zacks Investment Research lowered shares of Northern Oil and Gas from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 28th. Capital One Financial raised shares of Northern Oil and Gas from an “underweight” rating to an “equal weight” rating in a research report on Tuesday. Finally, Stifel Nicolaus began coverage on shares of Northern Oil and Gas in a research report on Monday. They issued a “buy” rating and a $3.10 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $2.27.

Shares of NOG traded down $0.05 during trading hours on Friday, hitting $1.64. The company had a trading volume of 2,737,163 shares, compared to its average volume of 2,176,062. Northern Oil and Gas Inc. has a 12 month low of $0.63 and a 12 month high of $2.97.



Northern Oil and Gas (NYSEAMERICAN:NOG) last issued its quarterly earnings data on Thursday, February 22nd. The energy company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.07. The company had revenue of $72.48 million during the quarter, compared to the consensus estimate of $65.00 million. Northern Oil and Gas’s revenue for the quarter was up 54.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 earnings per share.

Institutional investors and hedge funds have recently modified their holdings of the company. SNS Financial Group LLC bought a new position in shares of Northern Oil and Gas in the fourth quarter valued at about $103,000. Advisors Preferred LLC grew its stake in shares of Northern Oil and Gas by 628.9% in the fourth quarter. Advisors Preferred LLC now owns 56,571 shares of the energy company’s stock valued at $116,000 after acquiring an additional 48,810 shares in the last quarter. Wedbush Securities Inc. acquired a new position in shares of Northern Oil and Gas in the fourth quarter valued at about $166,000. Finally, Virtu Financial LLC grew its stake in shares of Northern Oil and Gas by 23.7% in the fourth quarter. Virtu Financial LLC now owns 167,968 shares of the energy company’s stock valued at $344,000 after acquiring an additional 32,180 shares in the last quarter.

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Northern Oil and 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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