Northern Oil & Gas (NYSEAMERICAN:NOG) posted its quarterly earnings results on Thursday. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.01), Fidelity Earnings reports. The firm had revenue of $102.27 million for the quarter, compared to the consensus estimate of $119.05 million.
Shares of Northern Oil & Gas stock traded up $0.02 during trading hours on Friday, reaching $3.00. The company’s stock had a trading volume of 136,713 shares, compared to its average volume of 3,852,834. Northern Oil & Gas has a one year low of $1.01 and a one year high of $4.49.
An institutional investor recently raised its position in Northern Oil & Gas stock. Bank of New York Mellon Corp increased its position in Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) by 460.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 386,113 shares of the energy company’s stock after acquiring an additional 317,239 shares during the period. Bank of New York Mellon Corp owned approximately 0.13% of Northern Oil & Gas worth $1,216,000 at the end of the most recent reporting period.
A number of research firms have recently issued reports on NOG. Northland Securities set a $6.00 price target on shares of Northern Oil & Gas and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Stifel Nicolaus set a $4.00 price target on shares of Northern Oil & Gas and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Capital One Financial upgraded shares of Northern Oil & Gas from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 31st. Finally, Zacks Investment Research upgraded shares of Northern Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $4.00 price target on the stock in a research report on Saturday, July 21st. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $4.17.
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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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