According to Zacks, “NORTHRN OIL & GAS, Inc. is an exploration and production company based in Wayzata, Minnesota. Northern Oil’s core area of focus is the Williston Basin, specifically the Mountrail County, North Dakota area Bakken Play. Northern Oil’s secondary objective is conventional, 3D driven, oil and gas exploration and development throughout the Rocky Mountain region. “
Separately, Northland Securities set a $5.00 price objective on shares of Northern Oil & Gas and gave the company a buy rating in a research note on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Northern Oil & Gas presently has an average rating of Buy and an average price target of $3.88.
Northern Oil & Gas (NYSEAMERICAN:NOG) last issued its quarterly earnings results on Thursday, August 1st. The energy company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. The business had revenue of $186.44 million during the quarter, compared to analyst estimates of $153.11 million.
In other news, major shareholder Robert B. Rowling acquired 1,508,382 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $1.55 per share, for a total transaction of $2,337,992.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Robert B. Rowling purchased 985,100 shares of the stock in a transaction on Friday, August 16th. The shares were bought at an average price of $1.60 per share, for a total transaction of $1,576,160.00. The disclosure for this purchase can be found here.
Hedge funds have recently made changes to their positions in the business. Marshall Wace LLP acquired a new stake in Northern Oil & Gas in the first quarter worth about $2,321,000. Marshall Wace North America L.P. acquired a new stake in Northern Oil & Gas in the first quarter worth about $586,000. Nordea Investment Management AB increased its position in Northern Oil & Gas by 3.3% in the first quarter. Nordea Investment Management AB now owns 461,057 shares of the energy company’s stock worth $1,264,000 after purchasing an additional 14,800 shares during the period. FMR LLC increased its position in Northern Oil & Gas by 92.5% in the first quarter. FMR LLC now owns 4,353,200 shares of the energy company’s stock worth $11,928,000 after purchasing an additional 2,092,100 shares during the period. Finally, WINTON GROUP Ltd increased its position in Northern Oil & Gas by 359.2% in the second quarter. WINTON GROUP Ltd now owns 115,826 shares of the energy company’s stock worth $224,000 after purchasing an additional 90,600 shares during the period.
About Northern Oil & Gas
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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