Northern Oil & Gas Sees Significant Drop in Short Interest (NOG)
Shares of Northern Oil & Gas (NYSE:NOG) were the recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 12,058,059 shares, a drop of 4.4% from the July 15th total of 12,613,455 shares, AmericanBankingNews.com reports. Currently, 21.0% of the company’s stock are sold short. Based on an average trading volume of 656,971 shares, the short-interest ratio is presently 18.4 days.
A number of analysts have recently weighed in on NOG shares. Analysts at Wunderlich raised their price target on shares of Northern Oil & Gas from $17.00 to $20.00 in a research note on Tuesday, July 15th. They now have a “buy” rating on the stock. Analysts at Howard Weil raised their price target on shares of Northern Oil & Gas from $21.00 to $24.00 in a research note on Thursday, July 10th. They now have a “sector outperform” rating on the stock. Five analysts have rated the stock with a buy rating, Northern Oil & Gas currently has an average rating of “Buy” and an average target price of $20.80.
Shares of Northern Oil & Gas (NYSE:NOG) opened at 16.71 on Tuesday. Northern Oil & Gas has a one year low of $11.79 and a one year high of $17.90. The stock has a 50-day moving average of $16.20 and a 200-day moving average of $15.19. The company has a market cap of $1.011 billion and a price-to-earnings ratio of 47.35.
Northern Oil & Gas (NYSE:NOG) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. The company had revenue of $74.60 million for the quarter, compared to the consensus estimate of $98.83 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was down 22.5% on a year-over-year basis. Analysts expect that Northern Oil & Gas will post $0.92 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.