Northern Oil and Gas (NOG) Bond Prices Rise 2%

An issue of Northern Oil and Gas Inc. (NYSEAMERICAN:NOG) debt rose 2% as a percentage of its face value during trading on Monday. The debt issue has a 8% coupon and will mature on June 1, 2020. The bonds in the issue are now trading at $97.00 and were trading at $95.50 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its share price.

NOG has been the topic of a number of analyst reports. Imperial Capital set a $2.00 price target on Northern Oil and Gas and gave the company a “hold” rating in a report on Thursday, December 21st. Zacks Investment Research downgraded Northern Oil and Gas from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 28th. Capital One Financial upgraded Northern Oil and Gas from an “underweight” rating to an “equal weight” rating in a report on Tuesday, April 10th. Finally, Stifel Nicolaus assumed coverage on Northern Oil and Gas in a research note on Monday, April 9th. They set a “buy” rating and a $3.10 target price on the stock. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Northern Oil and Gas presently has an average rating of “Hold” and an average price target of $2.27.

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NOG stock traded up $0.01 on Monday, hitting $1.65. 1,478,453 shares of the company’s stock were exchanged, compared to its average volume of 2,170,694. Northern Oil and Gas Inc. has a 12-month low of $0.63 and a 12-month high of $2.97.

Northern Oil and Gas (NYSEAMERICAN:NOG) last announced its earnings results on Thursday, February 22nd. The energy company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.07. The business had revenue of $72.48 million for the quarter, compared to analysts’ expectations of $65.00 million. During the same quarter last year, the firm earned $0.04 earnings per share. The firm’s quarterly revenue was up 54.0% compared to the same quarter last year.

A number of hedge funds have recently made changes to their positions in the stock. Advisors Preferred LLC grew its stake in Northern Oil and Gas by 628.9% during the 4th quarter. Advisors Preferred LLC now owns 56,571 shares of the energy company’s stock worth $116,000 after buying an additional 48,810 shares during the last quarter. Wedbush Securities Inc. purchased a new position in Northern Oil and Gas during the 4th quarter worth $166,000. SNS Financial Group LLC purchased a new position in Northern Oil and Gas during the 4th quarter worth $103,000. Finally, Virtu Financial LLC grew its stake in Northern Oil and Gas by 23.7% during the 4th quarter. Virtu Financial LLC now owns 167,968 shares of the energy company’s stock worth $344,000 after buying an additional 32,180 shares during the last quarter.

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Northern Oil and 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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