Northern Oil & Gas (NOG) Shares Up 6.2%

Share on StockTwits

Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG)’s share price shot up 6.2% on Tuesday . The stock traded as high as $2.93 and last traded at $2.92. 6,884,800 shares were traded during trading, an increase of 81% from the average session volume of 3,797,744 shares. The stock had previously closed at $2.75.

Several research firms have weighed in on NOG. Stifel Nicolaus set a $4.00 target price on Northern Oil & Gas and gave the company a “buy” rating in a report on Wednesday, August 1st. Northland Securities set a $6.00 target price on Northern Oil & Gas and gave the company a “buy” rating in a report on Wednesday, August 1st. Zacks Investment Research lowered Northern Oil & Gas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, Capital One Financial upgraded Northern Oil & Gas from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 31st. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $4.17.

Northern Oil & Gas (NYSEAMERICAN:NOG) last released its earnings results on Thursday, August 9th. The energy company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $96.78 million for the quarter, compared to analyst estimates of $95.20 million.

A number of hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. grew its position in 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 worth $112,000 after buying an additional 21,374 shares in the last quarter. Northern Trust Corp grew its position in Northern Oil & Gas by 19.9% during the first quarter. Northern Trust Corp now owns 173,931 shares of the energy company’s stock worth $345,000 after buying an additional 28,886 shares in the last quarter. Dimensional Fund Advisors LP grew its position in 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 worth $334,000 after buying an additional 31,803 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in Northern Oil & Gas during the second quarter worth about $120,000. Finally, CAPROCK Group Inc. acquired a new stake in Northern Oil & Gas during the third quarter worth about $156,000.

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.

Recommended Story: Asset Allocation Models, Which is Right For You?

Receive News & Ratings for Northern Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply