Northern Oil & Gas, Inc. (NOG) Receives Average Recommendation of “Hold” from Analysts

Shares of Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) have earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $2.00.

A number of research firms have issued reports on NOG. Imperial Capital set a $2.00 price target on Northern Oil & Gas and gave the company a “hold” rating in a research report on Thursday, December 21st. Zacks Investment Research downgraded Northern Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 10th.

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NOG traded up $0.11 during mid-day trading on Tuesday, hitting $1.98. 1,476,400 shares of the stock were exchanged, compared to its average volume of 1,906,405. Northern Oil & Gas has a 1-year low of $0.63 and a 1-year high of $2.97.

Northern Oil & Gas (NYSEAMERICAN:NOG) last posted its earnings results on Thursday, February 22nd. The energy company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.07. The firm had revenue of $72.48 million for the quarter, compared to analyst estimates of $65.00 million. During the same period in the previous year, the company posted $0.04 EPS. Northern Oil & Gas’s revenue was up 54.0% on a year-over-year basis.

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Northern Oil & Gas by 33.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,613,020 shares of the energy company’s stock valued at $5,058,000 after buying an additional 905,328 shares during the period. Gen IV Investment Opportunities LLC acquired a new stake in shares of Northern Oil & Gas in the 3rd quarter valued at approximately $989,000. Virtu Financial LLC lifted its holdings in shares of Northern Oil & Gas by 23.7% in the 4th quarter. Virtu Financial LLC now owns 167,968 shares of the energy company’s stock valued at $344,000 after buying an additional 32,180 shares during the period. SNS Financial Group LLC acquired a new stake in shares of Northern Oil & Gas in the 4th quarter valued at approximately $103,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of Northern Oil & Gas in the 4th quarter valued at approximately $166,000.

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About Northern Oil & Gas

Northern Oil and Gas, Inc is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and natural gas properties, primarily in the Bakken and Three Forks formations within the Williston Basin in North Dakota and Montana. The Company holds working interests in over 2,630 gross (204.3 net) producing wells, including over 2,630 wells targeting the Bakken and Three Forks formations and over two wells targeting other formations.

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