Brokerages Set Northern Oil & Gas, Inc. (NOG) Price Target at $4.20

Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) has received a consensus recommendation of “Buy” from the eight analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $4.20.

NOG has been the topic of several research analyst reports. SunTrust Banks set a $5.00 target price on shares of Northern Oil & Gas and gave the company a “buy” rating in a research note on Thursday, March 21st. Northland Securities reissued a “buy” rating and set a $5.00 target price on shares of Northern Oil & Gas in a research note on Monday, March 18th. TheStreet raised shares of Northern Oil & Gas from a “d” rating to a “c” rating in a research note on Wednesday, March 13th. Imperial Capital set a $3.00 target price on shares of Northern Oil & Gas and gave the company a “hold” rating in a research note on Wednesday, January 23rd. Finally, Zacks Investment Research raised shares of Northern Oil & Gas from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th.

NYSEAMERICAN NOG traded down $0.12 during trading hours on Friday, hitting $2.61. 4,245,890 shares of the company were exchanged, compared to its average volume of 4,730,191. Northern Oil & Gas has a 52 week low of $1.53 and a 52 week high of $4.49.

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

In other Northern Oil & Gas news, major shareholder Crestview Partners Iii Gp, L.P sold 769,700 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $2.26, for a total value of $1,739,522.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 5,948,934 shares of company stock valued at $14,820,204.

Several hedge funds have recently bought and sold shares of NOG. Wells Fargo & Company MN boosted its holdings in shares of Northern Oil & Gas by 6,960.2% during the third quarter. Wells Fargo & Company MN now owns 1,028,460 shares of the energy company’s stock worth $4,114,000 after purchasing an additional 1,013,893 shares during the period. Rhumbline Advisers raised its position in Northern Oil & Gas by 60.8% during the third quarter. Rhumbline Advisers now owns 178,995 shares of the energy company’s stock valued at $716,000 after acquiring an additional 67,684 shares in the last quarter. Alliancebernstein L.P. raised its position in Northern Oil & Gas by 145.8% during the third quarter. Alliancebernstein L.P. now owns 209,952 shares of the energy company’s stock valued at $840,000 after acquiring an additional 124,552 shares in the last quarter. Bank of New York Mellon Corp raised its position in Northern Oil & Gas by 94.8% during the third quarter. Bank of New York Mellon Corp now owns 752,229 shares of the energy company’s stock valued at $3,009,000 after acquiring an additional 366,116 shares in the last quarter. Finally, BlackRock Inc. raised its position in Northern Oil & Gas by 59.3% during the third quarter. BlackRock Inc. now owns 13,330,385 shares of the energy company’s stock valued at $53,321,000 after acquiring an additional 4,961,556 shares in the last quarter.

About Northern Oil & Gas

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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Analyst Recommendations for Northern Oil & Gas (NYSEAMERICAN:NOG)

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