Brokerages Set Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) Target Price at $4.33

Shares of Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) have received an average recommendation of “Buy” from the five analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $4.33.

Several equities research analysts have recently commented on NOG shares. Northland Securities set a $5.00 target price on shares of Northern Oil & Gas and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Zacks Investment Research upgraded shares of Northern Oil & Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st.

Shares of NYSEAMERICAN:NOG traded down $0.11 on Friday, hitting $1.68. The stock had a trading volume of 8,316,237 shares, compared to its average volume of 5,459,398. Northern Oil & Gas has a twelve month low of $1.40 and a twelve month high of $4.49.

Northern Oil & Gas (NYSEAMERICAN:NOG) last issued its earnings results on Thursday, August 1st. The energy company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The firm had revenue of $186.44 million during the quarter, compared to analyst estimates of $153.11 million.

In related news, major shareholder Robert B. Rowling purchased 1,508,382 shares of Northern Oil & Gas stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $1.55 per share, for a total transaction of $2,337,992.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Robert B. Rowling purchased 1,000,060 shares of Northern Oil & Gas stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average price of $2.06 per share, for a total transaction of $2,060,123.60. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 3,493,542 shares of company stock worth $5,974,276.

A number of hedge funds and other institutional investors have recently modified their holdings of NOG. Metropolitan Life Insurance Co. NY raised its holdings in Northern Oil & Gas by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 66,134 shares of the energy company’s stock worth $149,000 after purchasing an additional 51,650 shares during the last quarter. FMR LLC raised its holdings in Northern Oil & Gas by 72.1% during the 4th quarter. FMR LLC now owns 2,261,100 shares of the energy company’s stock worth $5,110,000 after purchasing an additional 947,334 shares during the last quarter. Marshall Wace LLP bought a new stake in Northern Oil & Gas during the 1st quarter worth about $2,321,000. Bank of America Corp DE raised its holdings in Northern Oil & Gas by 193.9% during the 4th quarter. Bank of America Corp DE now owns 61,445 shares of the energy company’s stock worth $139,000 after purchasing an additional 40,537 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in Northern Oil & Gas during the 1st quarter worth about $586,000.

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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