Northern Oil & Gas, Inc. (NOG) Receives $3.54 Average PT from Brokerages

Shares of Northern Oil & Gas, Inc. (NYSEMKT:NOG) have earned a consensus rating of “Hold” from the seven brokerages that are covering the company. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $3.54.

Several brokerages recently weighed in on NOG. Canaccord Genuity set a $3.00 price target on Northern Oil & Gas and gave the stock a “hold” rating in a report on Saturday, February 11th. Scotiabank set a $3.00 price target on Northern Oil & Gas and gave the stock a “hold” rating in a report on Thursday, March 2nd. Zacks Investment Research raised Northern Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $3.25 price target for the company in a report on Wednesday, January 11th. Royal Bank of Canada downgraded Northern Oil & Gas from an “outperform” rating to a “sector perform” rating and set a $4.00 price target for the company. in a report on Thursday, December 15th. They noted that the move was a valuation call. Finally, National Securities decreased their price target on Northern Oil & Gas from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Monday, March 6th.

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Large investors have recently modified their holdings of the company. Elliott Management Corp bought a new stake in shares of Northern Oil & Gas during the fourth quarter valued at $6,738,000. AQR Capital Management LLC bought a new stake in shares of Northern Oil & Gas during the fourth quarter valued at $263,000. A.R.T. Advisors LLC boosted its position in Northern Oil & Gas by 628.4% in the fourth quarter. A.R.T. Advisors LLC now owns 215,601 shares of the company’s stock valued at $592,000 after buying an additional 186,001 shares during the last quarter. State Street Corp boosted its position in Northern Oil & Gas by 1.6% in the fourth quarter. State Street Corp now owns 1,229,427 shares of the company’s stock valued at $3,383,000 after buying an additional 19,841 shares during the last quarter. Finally, Comerica Bank boosted its position in Northern Oil & Gas by 5.6% in the fourth quarter. Comerica Bank now owns 47,249 shares of the company’s stock valued at $154,000 after buying an additional 2,523 shares during the last quarter.

Shares of Northern Oil & Gas (NYSEMKT:NOG) opened at 2.75 on Tuesday. Northern Oil & Gas has a 1-year low of $1.55 and a 1-year high of $5.85. The firm’s market cap is $168.72 million. The firm has a 50 day moving average price of $3.08 and a 200 day moving average price of $2.78.

Northern Oil & Gas (NYSEMKT:NOG) last posted its quarterly earnings data on Wednesday, March 1st. The company reported $0.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The firm earned $35.90 million during the quarter, compared to analyst estimates of $52.11 million. Northern Oil & Gas’s revenue was down 36.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. Analysts anticipate that Northern Oil & Gas will post $0.07 EPS for the current year.

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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