Northern Oil & Gas Sees Significant Growth in Short Interest (NOG)
Northern Oil & Gas (NYSE:NOG) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totalling 12,929,167 shares, an increase of 7.2% from the July 31st total of 12,058,059 shares, Analyst Ratings Net reports. Based on an average daily volume of 1,296,257 shares, the short-interest ratio is currently 10.0 days. Approximately 22.5% of the shares of the stock are sold short.
A number of research firms have recently commented on NOG. 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.
Shares of Northern Oil & Gas (NYSE:NOG) traded down 0.66% on Tuesday, hitting $16.60. 674,533 shares of the company’s stock traded hands. Northern Oil & Gas has a 52-week low of $12.71 and a 52-week high of $17.90. The stock has a 50-day moving average of $16.18 and a 200-day moving average of $15.31. The company has a market cap of $1.005 billion and a price-to-earnings ratio of 48.16.
Northern Oil & Gas (NYSE:NOG) last released its earnings data 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. On average, analysts predict that Northern Oil & Gas will post $1.04 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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