Northern Oil & Gas (NOG) Shares Gap Down to $2.12

Shares of Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) gapped down prior to trading on Thursday . The stock had previously closed at $2.02, but opened at $2.12. Northern Oil & Gas shares last traded at $2.06, with a volume of 129775 shares changing hands.

Several research firms recently weighed in on NOG. Zacks Investment Research lowered shares of Northern Oil & Gas from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Imperial Capital set a $3.00 price target on shares of Northern Oil & Gas and gave the company a “hold” rating in a research report on Wednesday, January 23rd. SunTrust Banks set a $5.00 price target on shares of Northern Oil & Gas and gave the company a “buy” rating in a research report on Thursday, March 21st. Northland Securities restated a “buy” rating and set a $5.00 price target on shares of Northern Oil & Gas in a research report on Monday, March 18th. Finally, TheStreet upgraded shares of Northern Oil & Gas from a “d” rating to a “c” rating in a research report on Wednesday, March 13th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $3.92.

Northern Oil & Gas (NYSEAMERICAN:NOG) last issued its 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 for the quarter, compared to analysts’ expectations of $142.86 million.

In other Northern Oil & Gas news, major shareholder Robert B. Rowling bought 1,000,000 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was purchased at an average price of $2.23 per share, for a total transaction of $2,230,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of large investors have recently modified their holdings of NOG. Crestview Partners III GP L.P. bought a new position in shares of Northern Oil & Gas in the fourth quarter valued at approximately $109,862,000. BlackRock Inc. raised its stake in shares of Northern Oil & Gas by 1.3% during the first quarter. BlackRock Inc. now owns 13,785,297 shares of the energy company’s stock worth $37,771,000 after acquiring an additional 171,432 shares in the last quarter. Millennium Management LLC raised its stake in shares of Northern Oil & Gas by 9,921.3% during the fourth quarter. Millennium Management LLC now owns 11,124,026 shares of the energy company’s stock worth $25,140,000 after acquiring an additional 11,013,022 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Northern Oil & Gas by 21.5% during the third quarter. Vanguard Group Inc. now owns 10,675,890 shares of the energy company’s stock worth $42,704,000 after acquiring an additional 1,891,771 shares in the last quarter. Finally, Vanguard Group Inc raised its stake in shares of Northern Oil & Gas by 21.5% during the third quarter. Vanguard Group Inc now owns 10,675,890 shares of the energy company’s stock worth $42,704,000 after acquiring an additional 1,891,771 shares in the last quarter.

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Northern Oil & Gas Company Profile (NYSEAMERICAN:NOG)

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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