Northern Oil & Gas (NOG) Shares Gap Down to $2.58

Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) shares gapped down before the market opened on Thursday . The stock had previously closed at $2.72, but opened at $2.58. Northern Oil & Gas shares last traded at $2.45, with a volume of 5365788 shares traded.

A number of brokerages have recently commented on NOG. SunTrust Banks reiterated a “buy” rating and set a $4.00 price target on shares of Northern Oil & Gas in a report on Thursday, November 29th. Zacks Investment Research lowered Northern Oil & Gas from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $4.17.

Northern Oil & Gas (NYSEAMERICAN:NOG) last announced its earnings results on Thursday, November 8th. The energy company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $102.27 million during the quarter, compared to the consensus estimate of $119.05 million.



In other news, major shareholder Crestview Partners Iii Gp, L.P sold 2,865,329 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $3.49, for a total transaction of $9,999,998.21. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Several hedge funds have recently made changes to their positions in the company. Sterling Investment Advisors Ltd. lifted its stake in shares of Northern Oil & Gas by 63.5% during the third quarter. Sterling Investment Advisors Ltd. now owns 51,500 shares of the energy company’s stock valued at $206,000 after acquiring an additional 20,000 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Northern Oil & Gas by 151.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,509 shares of the energy company’s stock valued at $112,000 after acquiring an additional 21,374 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Northern Oil & Gas by 42.9% during the second quarter. Dimensional Fund Advisors LP now owns 105,965 shares of the energy company’s stock valued at $334,000 after acquiring an additional 31,803 shares during the period. Dynamic Advisor Solutions LLC acquired a new position in shares of Northern Oil & Gas during the second quarter valued at $120,000. Finally, CAPROCK Group Inc. acquired a new position in shares of Northern Oil & Gas during the third quarter valued at $156,000.

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Northern Oil & Gas Company Profile (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.

Further Reading: What is Depreciation?

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