Shares of Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) were down 5.1% during trading on Friday . The stock traded as low as $2.40 and last traded at $2.40. Approximately 9,943,176 shares were traded during mid-day trading, an increase of 117% from the average daily volume of 4,572,500 shares. The stock had previously closed at $2.53.

Several research firms have weighed in on NOG. Zacks Investment Research upgraded shares of Northern Oil & Gas from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. Imperial Capital set a $3.00 target price on shares of Northern Oil & Gas and gave the company a “hold” rating in a report on Wednesday, January 23rd. SunTrust Banks restated a “buy” rating and set a $4.00 target price on shares of Northern Oil & Gas in a report on Thursday, November 29th. Finally, TheStreet upgraded shares of Northern Oil & Gas from a “d” rating to a “c” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Northern Oil & Gas currently has a consensus rating of “Buy” and a consensus target price of $4.17.

Northern Oil & Gas (NYSEAMERICAN:NOG) last posted its earnings results on Tuesday, March 12th. The energy company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.11. The business had revenue of $152.57 million for the quarter, compared to analysts’ expectations of $159.29 million.

In other news, major shareholder Crestview Partners Iii Gp, L.P sold 759,136 shares of Northern Oil & Gas stock in a transaction dated Tuesday, January 22nd. The shares were sold at an average price of $2.68, for a total transaction of $2,034,484.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 10,147,584 shares of company stock valued at $27,248,208.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Crestview Partners III GP L.P. purchased a new stake in shares of Northern Oil & Gas during the fourth quarter worth about $109,862,000. BlackRock Inc. grew its holdings in Northern Oil & Gas by 2.1% in the fourth quarter. BlackRock Inc. now owns 13,613,865 shares of the energy company’s stock valued at $30,767,000 after purchasing an additional 283,480 shares during the period. Millennium Management LLC grew its holdings in Northern Oil & Gas by 9,921.3% in the fourth quarter. Millennium Management LLC now owns 11,124,026 shares of the energy company’s stock valued at $25,140,000 after purchasing an additional 11,013,022 shares during the period. Vanguard Group Inc grew its holdings in Northern Oil & Gas by 21.5% in the third quarter. Vanguard Group Inc now owns 10,675,890 shares of the energy company’s stock valued at $42,704,000 after purchasing an additional 1,891,771 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Northern Oil & Gas by 21.5% in the third quarter. Vanguard Group Inc. now owns 10,675,890 shares of the energy company’s stock valued at $42,704,000 after purchasing an additional 1,891,771 shares during the period.

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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.

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