Northern Oil & Gas, Inc. (AMEX:NOG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.

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. “

Several other analysts also recently commented on the stock. Scotiabank set a $2.00 price objective on shares of Northern Oil & Gas and gave the company a “hold” rating in a report on Saturday, July 1st. Capital One Financial Corporation downgraded shares of Northern Oil & Gas from an “equal weight” rating to an “underweight” rating in a report on Wednesday, June 21st. Royal Bank Of Canada set a $3.00 price objective on shares of Northern Oil & Gas and gave the company a “hold” rating in a report on Saturday, June 17th. Finally, ValuEngine downgraded shares of Northern Oil & Gas from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $2.50.

Northern Oil & Gas (NOG) opened at 0.9768 on Friday. Northern Oil & Gas has a 52 week low of $0.85 and a 52 week high of $4.06. The stock’s market cap is $62.34 million. The stock’s 50 day moving average is $1.23 and its 200 day moving average is $2.17.

Northern Oil & Gas (AMEX:NOG) last released its quarterly earnings data on Tuesday, August 8th. The energy company reported $0.22 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.24. The business had revenue of $64.90 million during the quarter, compared to analysts’ expectations of $48.06 million. The firm’s revenue was up 102.8% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. Analysts predict that Northern Oil & Gas will post ($0.01) EPS for the current year.

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Hedge funds have recently made changes to their positions in the company. Elliott Management Corp increased its stake in shares of Northern Oil & Gas by 87.0% in the first quarter. Elliott Management Corp now owns 4,582,814 shares of the energy company’s stock worth $11,915,000 after buying an additional 2,132,555 shares during the period. US Bancorp DE increased its stake in shares of Northern Oil & Gas by 126.6% in the second quarter. US Bancorp DE now owns 2,720,400 shares of the energy company’s stock worth $3,809,000 after buying an additional 1,520,000 shares during the period. Stonehill Capital Management LLC purchased a new stake in shares of Northern Oil & Gas during the first quarter worth about $1,822,000. Schroder Investment Management Group increased its stake in shares of Northern Oil & Gas by 19.9% in the first quarter. Schroder Investment Management Group now owns 2,525,329 shares of the energy company’s stock worth $6,313,000 after buying an additional 419,604 shares during the period. Finally, American Century Companies Inc. purchased a new stake in shares of Northern Oil & Gas during the first quarter worth about $522,000.

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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