Northern Oil & Gas (NYSEAMERICAN:NOG) Trading Down 7.2%

Shares of Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) dropped 7.2% on Thursday . The stock traded as low as $1.76 and last traded at $1.80, approximately 11,168,256 shares changed hands during trading. An increase of 97% from the average daily volume of 5,659,964 shares. The stock had previously closed at $1.94.

A number of equities research analysts recently issued reports on NOG shares. Zacks Investment Research lowered shares of Northern Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday, November 26th. Northland Securities assumed coverage on shares of Northern Oil & Gas in a report on Thursday, November 21st. They issued a “buy” rating and a $3.25 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $3.44.

Northern Oil & Gas (NYSEAMERICAN:NOG) last issued its quarterly earnings data on Tuesday, November 12th. The energy company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). The firm had revenue of $233.88 million for the quarter, compared to analysts’ expectations of $170.59 million.

Several hedge funds and other institutional investors have recently bought and sold shares of NOG. Wedbush Securities Inc. purchased a new stake in shares of Northern Oil & Gas during the second quarter worth $27,000. Aperio Group LLC acquired a new stake in Northern Oil & Gas in the 2nd quarter valued at about $31,000. Prudential Financial Inc. boosted its stake in shares of Northern Oil & Gas by 40.9% in the 2nd quarter. Prudential Financial Inc. now owns 21,540 shares of the energy company’s stock valued at $42,000 after buying an additional 6,250 shares during the period. AMP Capital Investors Ltd purchased a new position in shares of Northern Oil & Gas in the 2nd quarter valued at about $76,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Northern Oil & Gas by 1,798.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 39,157 shares of the energy company’s stock valued at $77,000 after buying an additional 37,094 shares during the period.

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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