Northern Oil & Gas (NOG) Shares Gap Down to $2.00

Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) shares gapped down prior to trading on Wednesday . The stock had previously closed at $2.09, but opened at $2.00. Northern Oil & Gas shares last traded at $1.77, with a volume of 1894917 shares traded.

NOG has been the topic of a number of analyst reports. Imperial Capital set a $2.00 price objective on shares of Northern Oil & Gas and gave the stock a “hold” rating in a research report on Thursday, December 21st. Zacks Investment Research downgraded shares of Northern Oil & Gas from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Northern Oil & Gas has a consensus rating of “Hold” and an average target price of $1.75.

The company has a market capitalization of $147.68, a P/E ratio of 41.00 and a beta of 1.73.

Northern Oil & Gas (NYSEAMERICAN:NOG) last released its earnings results on Wednesday, November 8th. The energy company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The company had revenue of $54.26 million during the quarter, compared to analyst estimates of $51.04 million. The firm’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same quarter last year, the business earned $0.04 earnings per share.

A number of hedge funds have recently added to or reduced their stakes in the stock. Wedbush Securities Inc. acquired a new stake in Northern Oil & Gas in the 4th quarter worth approximately $166,000. SNS Financial Group LLC acquired a new stake in Northern Oil & Gas in the 4th quarter worth approximately $103,000. Virtu Financial LLC boosted its stake in Northern Oil & Gas by 23.7% in the 4th 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 in the last quarter. Gen IV Investment Opportunities LLC acquired a new stake in Northern Oil & Gas during the 3rd quarter valued at approximately $989,000. Finally, Virtu KCG Holdings LLC lifted its stake in Northern Oil & Gas by 237.4% during the 2nd quarter. Virtu KCG Holdings LLC now owns 148,902 shares of the energy company’s stock valued at $208,000 after acquiring an additional 104,769 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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