Northern Oil & Gas Short Interest Up 1.5% in June (NOG)
Shares of Northern Oil & Gas (NYSE:NOG) were the target of a large growth in short interest in June. As of June 13th, there was short interest totalling 13,116,874 shares, a growth of 1.5% from the May 30th total of 12,923,853 shares, StockRatingsNetwork reports. Approximately 22.8% of the company’s stock are short sold. Based on an average daily volume of 588,465 shares, the short-interest ratio is presently 22.3 days.
Separately, 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.83.
Shares of Northern Oil & Gas (NYSE:NOG) opened at 16.03 on Wednesday. Northern Oil & Gas has a 52-week low of $11.79 and a 52-week high of $17.90. The stock has a 50-day moving average of $15.4 and a 200-day moving average of $14.82. The company has a market cap of $967.8 million and a price-to-earnings ratio of 20.87.
Northern Oil & Gas (NYSE:NOG) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.24 by $0.05. The company had revenue of $82.12 million for the quarter, compared to the consensus estimate of $93.76 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 20.9% on a year-over-year basis. On average, analysts predict that Northern Oil & Gas will post $0.92 earnings per share 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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