Zacks Investment Research cut shares of Northern Oil & Gas (NYSEAMERICAN:NOG) from a strong-buy rating to a hold rating in a research report released on Wednesday.

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 initiated coverage on Northern Oil & Gas in a report on Tuesday, October 3rd. They issued an in-line rating and a $1.00 target price for the company. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $1.75.

Shares of Northern Oil & Gas (NOG) traded up $0.03 during trading on Wednesday, reaching $2.91. The company’s stock had a trading volume of 2,070,000 shares, compared to its average volume of 2,070,000. The company has a market cap of $194.45, a P/E ratio of 72.75 and a beta of 1.76. Northern Oil & Gas has a 12 month low of $0.63 and a 12 month high of $4.00.

Northern Oil & Gas (NYSEAMERICAN:NOG) last issued its earnings results on Wednesday, November 8th. The energy company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The firm had revenue of $54.26 million during the quarter, compared to analysts’ expectations of $51.04 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. Northern Oil & Gas’s quarterly revenue was up 30.1% compared to the same quarter last year.

Several hedge funds have recently modified their holdings of NOG. Gen IV Investment Opportunities LLC purchased a new stake in shares of Northern Oil & Gas in the 3rd quarter worth $989,000. Vanguard Group Inc. lifted its holdings in shares of Northern Oil & Gas by 33.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,613,020 shares of the energy company’s stock worth $5,058,000 after buying an additional 905,328 shares during the period. Virtu KCG Holdings LLC lifted its holdings in shares of Northern Oil & Gas by 237.4% in the 2nd 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 period. Isthmus Partners LLC lifted its holdings in shares of Northern Oil & Gas by 60.7% in the 2nd 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 period. Finally, Quantitative Investment Management LLC lifted its holdings in shares of Northern Oil & Gas by 11.3% in the 2nd 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 period.

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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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