According to Zacks, “NORTHRN OIL & GAS, Inc. is an exploration and production company based in Wayzata, Minnesota. Northern Oil’s core area of focus is the Williston Basin, specifically the Mountrail County, North Dakota area Bakken Play. Northern Oil’s secondary objective is conventional, 3D driven, oil and gas exploration and development throughout the Rocky Mountain region. “
Separately, Northland Securities set a $5.00 target price on shares of Northern Oil & Gas and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $3.88.
Northern Oil & Gas (NYSEAMERICAN:NOG) last posted its earnings results on Thursday, May 9th. The energy company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 news, major shareholder Robert B. Rowling purchased 1,000,060 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $2.06 per share, for a total transaction of $2,060,123.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 bought at an average price of $2.23 per share, with a total value of $2,230,000.00. The disclosure for this purchase can be found here.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Northern Oil & Gas by 2.1% during the fourth 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 during the period. Dimensional Fund Advisors LP lifted its stake in Northern Oil & Gas by 57.5% during the fourth 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 during the period. FMR LLC lifted its stake in Northern Oil & Gas by 92.5% during the first 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 during the period. Spark Investment Management LLC lifted its stake in Northern Oil & Gas by 17.8% during the first quarter. Spark Investment Management LLC now owns 2,401,900 shares of the energy company’s stock worth $6,581,000 after purchasing an additional 362,500 shares during the period. Finally, Northern Trust Corp lifted its stake in Northern Oil & Gas by 5.1% during the fourth quarter. Northern Trust Corp now owns 2,363,265 shares of the energy company’s stock worth $5,342,000 after purchasing an additional 115,699 shares during the period.
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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