SunTrust Banks Research Analysts Lower Earnings Estimates for Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG)

Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) – Analysts at SunTrust Banks dropped their Q3 2019 earnings per share estimates for shares of Northern Oil & Gas in a research note issued to investors on Monday, July 8th. SunTrust Banks analyst N. Dingmann now anticipates that the energy company will earn $0.13 per share for the quarter, down from their prior estimate of $0.15. 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 $0.14 EPS, FY2020 earnings at $0.55 EPS and FY2021 earnings at $0.60 EPS.

Northern Oil & Gas (NYSEAMERICAN:NOG) last issued its quarterly earnings results on Thursday, May 9th. The energy company reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.05). The company had revenue of $132.68 million during the quarter, compared to analyst estimates of $142.86 million.

Other analysts have also issued reports about the company. Northland Securities set a $2.00 price target on Global Eagle Entertainment and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Zacks Investment Research lowered Farmland Partners from a “hold” rating to a “sell” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $3.90.

Shares of Northern Oil & Gas stock opened at $1.95 on Thursday. Northern Oil & Gas has a 12 month low of $1.83 and a 12 month high of $4.49.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Northern Oil & Gas by 2.1% in the 4th quarter. BlackRock Inc. now owns 13,613,865 shares of the energy company’s stock worth $30,767,000 after purchasing an additional 283,480 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Northern Oil & Gas by 9,921.3% in the 4th quarter. Millennium Management LLC now owns 11,124,026 shares of the energy company’s stock worth $25,140,000 after purchasing an additional 11,013,022 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Northern Oil & Gas by 57.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,995,137 shares of the energy company’s stock worth $11,290,000 after purchasing an additional 1,824,622 shares in the last quarter. FMR LLC boosted its holdings in shares of Northern Oil & Gas by 92.5% in the 1st quarter. FMR LLC now owns 4,353,200 shares of the energy company’s stock worth $11,928,000 after purchasing an additional 2,092,100 shares in the last quarter. Finally, Meghalaya Partners L.P. boosted its holdings in shares of Northern Oil & Gas by 176.2% in the 4th quarter. Meghalaya Partners L.P. now owns 2,762,000 shares of the energy company’s stock worth $6,242,000 after purchasing an additional 1,762,000 shares in the last quarter.

In other Northern Oil & Gas news, major shareholder Robert B. Rowling bought 1,000,000 shares of Northern Oil & Gas stock in a transaction that occurred on Thursday, May 16th. The stock was acquired at an average cost of $2.23 per share, for a total transaction of $2,230,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Robert B. Rowling bought 1,000,060 shares of Northern Oil & Gas stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average price of $2.06 per share, with a total value of $2,060,123.60. The disclosure for this purchase can be found here.

Northern Oil & Gas Company Profile

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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Earnings History and Estimates for Northern Oil & Gas (NYSEAMERICAN:NOG)

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