Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) – SunTrust Banks boosted their Q3 2019 earnings estimates for shares of Northern Oil & Gas in a report released on Sunday, May 12th. SunTrust Banks analyst N. Dingmann now expects that the energy company will earn $0.15 per share for the quarter, up from their prior estimate of $0.14. SunTrust Banks currently has a “Buy” rating and a $5.00 target price on the stock. SunTrust Banks also issued estimates for Northern Oil & Gas’ Q4 2019 earnings at $0.16 EPS, FY2020 earnings at $0.63 EPS and FY2021 earnings at $0.72 EPS.
A number of other equities analysts have also commented on the company. TheStreet upgraded Northern Oil & Gas from a “d” rating to a “c” rating in a research note on Wednesday, March 13th. Zacks Investment Research upgraded Northern Oil & Gas from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research note on Friday, May 10th. Northland Securities set a $5.00 price objective on Northern Oil & Gas and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Imperial Capital set a $3.00 price objective on Northern Oil & Gas and gave the stock a “hold” rating in a research note on Wednesday, January 23rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $3.92.
Northern Oil & Gas (NYSEAMERICAN:NOG) last announced its quarterly earnings results on Thursday, May 9th. The energy company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The business had revenue of $132.68 million during the quarter, compared to the consensus estimate of $142.86 million.
In other news, major shareholder Crestview Partners Iii Gp, L.P sold 605,842 shares of Northern Oil & Gas stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $2.53, for a total value of $1,532,780.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Institutional investors and hedge funds have recently modified their holdings of the stock. Crestview Partners III GP L.P. bought a new position in Northern Oil & Gas during the fourth quarter valued at about $109,862,000. Meghalaya Partners L.P. boosted its holdings in Northern Oil & Gas by 176.2% during the fourth quarter. Meghalaya Partners L.P. now owns 2,762,000 shares of the energy company’s stock valued at $6,242,000 after purchasing an additional 1,762,000 shares in the last quarter. MetLife Investment Advisors LLC boosted its holdings in Northern Oil & Gas by 151.4% during the third quarter. MetLife Investment Advisors LLC now owns 142,953 shares of the energy company’s stock valued at $572,000 after purchasing an additional 86,081 shares in the last quarter. Teachers Advisors LLC boosted its holdings in Northern Oil & Gas by 81.8% during the third quarter. Teachers Advisors LLC now owns 375,597 shares of the energy company’s stock valued at $1,502,000 after purchasing an additional 169,011 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in Northern Oil & Gas by 92.4% during the fourth quarter. IFP Advisors Inc now owns 22,327 shares of the energy company’s stock valued at $51,000 after purchasing an additional 10,725 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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