Northern Oil & Gas Short Interest Up 1.9% in March (NOG)
Shares of Northern Oil & Gas (NYSE:NOG) were the target of a large growth in short interest in the month of January. As of March 31st, there was short interest totalling 12,542,012 shares, a growth of 1.9% from the March 14th total of 12,313,544 shares, American Banking News.com reports. Based on an average daily trading volume, of 1,048,892 shares, the short-interest ratio is presently 12.0 days. Currently, 22.1% of the shares of the company are short sold.
NOG has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Northern Oil & Gas from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 1st. They now have a $15.00 price target on the stock. Separately, analysts at Howard Weil cut their price target on shares of Northern Oil & Gas from $26.00 to $21.00 in a research note on Friday, March 7th. They now have a “sector outperform” rating on the stock. Finally, analysts at Wunderlich cut their price target on shares of Northern Oil & Gas from $20.00 to $17.00 in a research note on Monday, March 3rd. They now have a “buy” rating on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Northern Oil & Gas currently has a consensus rating of “Buy” and a consensus price target of $18.83.
Northern Oil & Gas (NYSE:NOG) opened at 14.56 on Thursday. Northern Oil & Gas has a 1-year low of $11.79 and a 1-year high of $17.90. The stock has a 50-day moving average of $14.31 and a 200-day moving average of $15.0. The company has a market cap of $892.0 million and a price-to-earnings ratio of 16.88.
Northern Oil & Gas (NYSE:NOG) last released its earnings data on Thursday, February 27th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.27 by $0.05. The company had revenue of $101.90 million for the quarter, compared to the consensus estimate of $98.45 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 24.7% on a year-over-year basis. Analysts expect that Northern Oil & Gas will post $1.04 EPS for the current fiscal year.
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.
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