Northern Oil & Gas, Inc. (NOG) Short Interest Update
Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) saw a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 6,101,332 shares, a decrease of 7.9% from the November 15th total of 6,627,204 shares. Based on an average daily volume of 1,732,402 shares, the short-interest ratio is currently 3.5 days. Approximately 14.7% of the company’s stock are short sold.
A number of equities analysts have recently weighed in on the company. Royal Bank of Canada set a $2.00 target price on Northern Oil & Gas and gave the company a “hold” rating in a report on Thursday, August 24th. Zacks Investment Research upgraded Northern Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $1.00 target price on the stock in a report on Wednesday, October 11th. Finally, Imperial Capital assumed coverage on Northern Oil & Gas in a report on Tuesday, October 3rd. They issued an “in-line” rating and a $1.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company. Northern Oil & Gas presently has an average rating of “Hold” and an average price target of $1.50.
A number of large investors have recently added to or reduced their stakes in NOG. Quantitative Investment Management LLC increased its holdings in Northern Oil & Gas by 11.3% in the second quarter. Quantitative Investment Management LLC now owns 90,500 shares of the energy company’s stock worth $126,000 after buying an additional 9,200 shares during the last quarter. Virtu KCG Holdings LLC increased its holdings in Northern Oil & Gas by 237.4% in the second quarter. Virtu KCG Holdings LLC now owns 148,902 shares of the energy company’s stock worth $208,000 after buying an additional 104,769 shares during the last quarter. LMR Partners LLP acquired a new position in Northern Oil & Gas in the second quarter worth approximately $226,000. Ameriprise Financial Inc. increased its holdings in Northern Oil & Gas by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 227,945 shares of the energy company’s stock worth $319,000 after buying an additional 705 shares during the last quarter. Finally, Isthmus Partners LLC increased its holdings in Northern Oil & Gas by 60.7% in the second quarter. Isthmus Partners LLC now owns 270,642 shares of the energy company’s stock worth $379,000 after buying an additional 102,198 shares during the last quarter.
Northern Oil & Gas (NYSEAMERICAN:NOG) last released its quarterly earnings data on Wednesday, November 8th. The energy company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $54.26 million during the quarter, compared to analyst estimates of $51.04 million. During the same quarter in the prior year, the company posted $0.04 EPS. The company’s quarterly revenue was up 30.1% on a year-over-year basis.
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Northern Oil & Gas Company Profile
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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