According to Zacks, “NORTHRN OIL & GAS, Inc. is an exploration and production company based in Wayzata, Minnesota. Northern Oil’s core area of focus is the Williston Basin, specifically the Mountrail County, North Dakota area Bakken Play. Northern Oil’s secondary objective is conventional, 3D driven, oil and gas exploration and development throughout the Rocky Mountain region. “
Several other research analysts have also recently commented on NOG. Northland Securities set a $5.00 target price on Northern Oil & Gas and gave the stock a buy rating in a research note on Tuesday, April 23rd. TheStreet raised Northern Oil & Gas from a d rating to a c rating in a research note on Wednesday, March 13th. SunTrust Banks set a $5.00 target price on Northern Oil & Gas and gave the stock a buy rating in a research note on Thursday, March 21st. Finally, Imperial Capital set a $3.00 target price on Northern Oil & Gas and gave the stock a hold rating in a research note on Wednesday, January 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $3.92.
Northern Oil & Gas (NYSEAMERICAN:NOG) last posted its quarterly earnings data on Thursday, May 9th. The energy company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.05). The company had revenue of $132.68 million during the quarter, compared to analysts’ expectations of $142.86 million.
In other news, major shareholder Crestview Partners Iii Gp, L.P sold 605,842 shares of the company’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $2.53, for a total transaction of $1,532,780.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Large investors have recently added to or reduced their stakes in the company. Crestview Partners III GP L.P. acquired a new stake in shares of Northern Oil & Gas in the 4th quarter valued at about $109,862,000. Meghalaya Partners L.P. boosted its position in shares of Northern Oil & Gas by 176.2% in the 4th quarter. Meghalaya Partners L.P. now owns 2,762,000 shares of the energy company’s stock valued at $6,242,000 after purchasing an additional 1,762,000 shares during the period. MetLife Investment Advisors LLC boosted its position in shares of Northern Oil & Gas by 151.4% in the 3rd quarter. MetLife Investment Advisors LLC now owns 142,953 shares of the energy company’s stock valued at $572,000 after purchasing an additional 86,081 shares during the period. Teachers Advisors LLC boosted its position in shares of Northern Oil & Gas by 81.8% in the 3rd quarter. Teachers Advisors LLC now owns 375,597 shares of the energy company’s stock valued at $1,502,000 after purchasing an additional 169,011 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Northern Oil & Gas by 92.4% in the 4th quarter. IFP Advisors Inc now owns 22,327 shares of the energy company’s stock valued at $51,000 after purchasing an additional 10,725 shares during the period.
Northern Oil & 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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