Northern Oil & Gas (NOG) Shares Gap Down to $3.66

Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) shares gapped down before the market opened on Thursday . The stock had previously closed at $3.88, but opened at $3.66. Northern Oil & Gas shares last traded at $3.54, with a volume of 3981517 shares.

NOG has been the topic of several research reports. Northland Securities set a $6.00 price target on shares of Northern Oil & Gas and gave the stock a “buy” rating in a research note 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 note on Wednesday, August 1st. Zacks Investment Research raised shares of Northern Oil & Gas from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Thursday, July 12th. Finally, Capital One Financial raised shares of Northern Oil & Gas from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 31st. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $4.17.

Northern Oil & Gas (NYSEAMERICAN:NOG) last issued its earnings results on Thursday, August 9th. The energy company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $96.78 million during the quarter, compared to analysts’ expectations of $95.20 million.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp boosted its holdings in Northern Oil & Gas by 19.9% in the first quarter. Northern Trust Corp now owns 173,931 shares of the energy company’s stock valued at $345,000 after acquiring an additional 28,886 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in Northern Oil & Gas in the first quarter valued at $147,000. BNP Paribas Arbitrage SA boosted its holdings in Northern Oil & Gas by 9,660.8% in the first quarter. BNP Paribas Arbitrage SA now owns 227,329 shares of the energy company’s stock valued at $450,000 after acquiring an additional 225,000 shares in the last quarter. A.R.T. Advisors LLC boosted its holdings in Northern Oil & Gas by 227.3% in the first quarter. A.R.T. Advisors LLC now owns 278,837 shares of the energy company’s stock valued at $552,000 after acquiring an additional 193,643 shares in the last quarter. Finally, Fisher Asset Management LLC bought a new stake in Northern Oil & Gas in the second quarter valued at $1,217,000.

About Northern Oil & Gas (NYSEAMERICAN:NOG)

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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