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. “
A number of other analysts have also commented on NOG. Imperial Capital upgraded Northern Oil & Gas from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $2.00 to $2.50 in a report on Friday, December 20th. Northland Securities started coverage on Northern Oil & Gas in a report on Thursday, November 21st. They issued a “buy” rating and a $3.25 price target on the stock. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $3.31.
Northern Oil & Gas (NYSEAMERICAN:NOG) last posted its earnings results on Tuesday, November 12th. The energy company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.02). The business had revenue of $233.88 million during the quarter, compared to analysts’ expectations of $170.59 million.
Several institutional investors have recently modified their holdings of NOG. Prudential Financial Inc. increased its position in shares of Northern Oil & Gas by 40.9% in the second quarter. Prudential Financial Inc. now owns 21,540 shares of the energy company’s stock valued at $42,000 after acquiring an additional 6,250 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of Northern Oil & Gas by 111.0% in the third quarter. Wedbush Securities Inc. now owns 30,040 shares of the energy company’s stock valued at $59,000 after acquiring an additional 15,800 shares during the last quarter. AMP Capital Investors Ltd acquired a new stake in shares of Northern Oil & Gas in the second quarter valued at about $76,000. Tower Research Capital LLC TRC increased its position in shares of Northern Oil & Gas by 1,798.1% in the third quarter. Tower Research Capital LLC TRC now owns 39,157 shares of the energy company’s stock valued at $77,000 after acquiring an additional 37,094 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. increased its position in shares of Northern Oil & Gas by 13.5% in the third quarter. Sterling Investment Advisors Ltd. now owns 81,174 shares of the energy company’s stock valued at $159,000 after acquiring an additional 9,674 shares during the last quarter.
About Northern Oil & Gas
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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