Northern Oil & Gas (NOG) Trading 5.3% Higher on Insider Buying Activity

Shares of Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) traded up 5.3% during mid-day trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $2.39 and last traded at $2.39. 7,372,879 shares traded hands during mid-day trading, an increase of 53% from the average session volume of 4,828,488 shares. The stock had previously closed at $2.27.

Specifically, major shareholder Robert B. Rowling acquired 1,000,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average cost of $2.23 per share, with a total value of $2,230,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Crestview Partners Iii Gp, L.P sold 605,842 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $2.53, for a total value of $1,532,780.26. The disclosure for this sale can be found here.

Several research firms have recently commented on NOG. Zacks Investment Research lowered Northern Oil & Gas from a “buy” rating to a “hold” rating in a report on Friday. Northland Securities set a $5.00 target price on Northern Oil & Gas and gave the company a “buy” rating in a report on Tuesday, April 23rd. SunTrust Banks set a $5.00 target price on Northern Oil & Gas and gave the company a “buy” rating in a report on Thursday, March 21st. TheStreet raised Northern Oil & Gas from a “d” rating to a “c” rating in a report on Wednesday, March 13th. Finally, Imperial Capital set a $3.00 target price on Northern Oil & Gas and gave the company a “hold” rating in a report on Wednesday, January 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Northern Oil & Gas presently has an average rating of “Buy” and an average price target of $3.92.



Northern Oil & Gas (NYSEAMERICAN:NOG) last issued 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 firm had revenue of $132.68 million during the quarter, compared to analyst estimates of $142.86 million.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Crestview Partners III GP L.P. acquired a new position in shares of Northern Oil & Gas during the fourth quarter worth approximately $109,862,000. BlackRock Inc. lifted its position in Northern Oil & Gas by 1.3% in the first quarter. BlackRock Inc. now owns 13,785,297 shares of the energy company’s stock worth $37,771,000 after purchasing an additional 171,432 shares during the period. Millennium Management LLC lifted its position in Northern Oil & Gas by 9,921.3% in the fourth quarter. Millennium Management LLC now owns 11,124,026 shares of the energy company’s stock worth $25,140,000 after purchasing an additional 11,013,022 shares during the period. Vanguard Group Inc. lifted its position in Northern Oil & Gas by 21.5% in the third quarter. Vanguard Group Inc. now owns 10,675,890 shares of the energy company’s stock worth $42,704,000 after purchasing an additional 1,891,771 shares during the period. Finally, Vanguard Group Inc lifted its position in Northern Oil & Gas by 21.5% in the third quarter. Vanguard Group Inc now owns 10,675,890 shares of the energy company’s stock worth $42,704,000 after purchasing an additional 1,891,771 shares during the period.

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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.

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