Northern Oil & Gas (NOG) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Northern Oil & Gas (NYSEAMERICAN:NOG) from a hold rating to a buy rating in a research report report published on Thursday morning. They currently have $2.25 target price on the energy company’s stock.
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. “
Separately, Imperial Capital set a $2.00 price target on Northern Oil & Gas and gave the stock a hold rating in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $2.06.
Northern Oil & Gas (NYSEAMERICAN:NOG) last issued its quarterly earnings results on Thursday, February 22nd. The energy company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.07. The firm had revenue of $72.48 million during the quarter, compared to analysts’ expectations of $65.00 million. Northern Oil & Gas’s revenue for the quarter was up 54.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 earnings per share.
Hedge funds have recently modified their holdings of the stock. SNS Financial Group LLC purchased a new stake in Northern Oil & Gas in the fourth quarter worth $103,000. Advisors Preferred LLC grew its stake in Northern Oil & Gas by 628.9% in the fourth quarter. Advisors Preferred LLC now owns 56,571 shares of the energy company’s stock worth $116,000 after purchasing an additional 48,810 shares during the period. Wedbush Securities Inc. purchased a new stake in Northern Oil & Gas in the fourth quarter worth $166,000. Virtu Financial LLC grew its stake in Northern Oil & Gas by 23.7% in the fourth quarter. Virtu Financial LLC now owns 167,968 shares of the energy company’s stock worth $344,000 after purchasing an additional 32,180 shares during the period. Finally, Ameriprise Financial Inc. grew its stake 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 purchasing an additional 705 shares during the period.
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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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