Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) shares rose 6.2% on Monday . The company traded as high as $2.73 and last traded at $2.57. Approximately 2,634,468 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 3,139,354 shares. The stock had previously closed at $2.42.
NOG has been the subject of a number of recent research reports. Imperial Capital initiated coverage on shares of Northern Oil & Gas in a report on Tuesday, October 3rd. They issued an “in-line” rating and a $1.00 target price for the company. Zacks Investment Research raised shares of Northern Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $1.00 target price for the company in a report on Wednesday, October 11th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $1.75.
The company has a market cap of $161.71, a PE ratio of 62.50 and a beta of 1.76.
Several institutional investors have recently made changes to their positions in the company. Gen IV Investment Opportunities LLC purchased a new position in Northern Oil & Gas in the third quarter valued at about $989,000. Virtu KCG Holdings LLC grew its stake 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 valued at $208,000 after purchasing an additional 104,769 shares during the last quarter. Vanguard Group Inc. grew its stake in Northern Oil & Gas by 33.4% in the second quarter. Vanguard Group Inc. now owns 3,613,020 shares of the energy company’s stock valued at $5,058,000 after purchasing an additional 905,328 shares during the last quarter. Quantitative Investment Management LLC grew its stake 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 valued at $126,000 after purchasing an additional 9,200 shares during the last quarter. Finally, Isthmus Partners LLC grew its stake 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 valued at $379,000 after purchasing an additional 102,198 shares during the last quarter.
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About Northern Oil & Gas
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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