Northern Oil & Gas, Inc. (NOG) to Post FY2017 Earnings of $0.06 Per Share, SunTrust Banks Forecasts

Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) – Equities research analysts at SunTrust Banks raised their FY2017 earnings estimates for shares of Northern Oil & Gas in a research note issued on Tuesday. SunTrust Banks analyst N. Dingmann now forecasts that the energy company will post earnings of $0.06 per share for the year, up from their previous estimate of $0.03.

Other equities research analysts have also issued reports about the company. Imperial Capital set a $2.00 price target on Northern Oil & Gas and gave the company a “hold” rating in a research report on Thursday, December 21st. Zacks Investment Research raised Northern Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $1.00 price target on the stock in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $1.75.

Northern Oil & Gas (NOG) opened at $2.42 on Thursday. The company has a market capitalization of $136.99, a P/E ratio of 60.50 and a beta of 1.76. Northern Oil & Gas has a one year low of $0.63 and a one year high of $4.00.

Northern Oil & Gas (NYSEAMERICAN:NOG) last released its earnings results on Wednesday, November 8th. The energy company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The business had revenue of $54.26 million for the quarter, compared to analysts’ expectations of $51.04 million. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 earnings per share.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. increased its position in Northern Oil & Gas by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 227,945 shares of the energy company’s stock worth $319,000 after buying an additional 705 shares during the period. Quantitative Investment Management LLC increased its position in Northern Oil & Gas by 11.3% in the second quarter. Quantitative Investment Management LLC now owns 90,500 shares of the energy company’s stock worth $126,000 after buying an additional 9,200 shares during the period. Geode Capital Management LLC increased its position in Northern Oil & Gas by 2.9% in the first quarter. Geode Capital Management LLC now owns 391,844 shares of the energy company’s stock worth $1,018,000 after buying an additional 11,148 shares during the period. Isthmus Partners LLC increased its position in Northern Oil & Gas by 60.7% in the second quarter. Isthmus Partners LLC now owns 270,642 shares of the energy company’s stock worth $379,000 after buying an additional 102,198 shares during the period. Finally, Virtu KCG Holdings LLC increased its position in Northern Oil & Gas by 237.4% in the second quarter. Virtu KCG Holdings LLC now owns 148,902 shares of the energy company’s stock worth $208,000 after buying an additional 104,769 shares during the period.

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Northern Oil & Gas Company Profile

Northern Oil and Gas, Inc is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and natural gas properties, primarily in the Bakken and Three Forks formations within the Williston Basin in North Dakota and Montana. The Company holds working interests in over 2,630 gross (204.3 net) producing wells, including over 2,630 wells targeting the Bakken and Three Forks formations and over two wells targeting other formations.

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