Northern Oil & Gas, Inc. (AMEX:NOG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday. The brokerage presently has a $1.00 price target on the energy company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 16.27% from the stock’s current price.

According to Zacks, “NORTHRN OIL & GAS, Inc. is an exploration and production company based in Wayzata, Minnesota. Northern Oil’s core area of focus is the Williston Basin, specifically the Mountrail County, North Dakota area Bakken Play. Northern Oil’s secondary objective is conventional, 3D driven, oil and gas exploration and development throughout the Rocky Mountain region. “

NOG has been the topic of a number of other research reports. Capital One Financial Corporation cut shares of Northern Oil & Gas from an “equal weight” rating to an “underweight” rating in a report on Wednesday, June 21st. Royal Bank Of Canada set a $2.00 price objective on shares of Northern Oil & Gas and gave the stock a “hold” rating in a report on Thursday, August 24th. Scotiabank set a $2.00 price objective on shares of Northern Oil & Gas and gave the stock a “hold” rating in a report on Saturday, July 1st. Finally, Imperial Capital assumed coverage on shares of Northern Oil & Gas in a report on Tuesday, October 3rd. They set an “in-line” rating and a $1.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $1.50.

Northern Oil & Gas (AMEX:NOG) opened at 0.8601 on Wednesday. Northern Oil & Gas has a 1-year low of $0.66 and a 1-year high of $4.00. The company’s market cap is $53.08 million. The company’s 50 day moving average is $0.87 and its 200 day moving average is $1.49.

Northern Oil & Gas (AMEX:NOG) last issued its earnings results on Tuesday, August 8th. The energy company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.24. The firm had revenue of $64.90 million during the quarter, compared to analyst estimates of $48.06 million. During the same period last year, the business earned $0.10 EPS. The firm’s revenue was up 102.8% compared to the same quarter last year. Equities research analysts forecast that Northern Oil & Gas will post $0.01 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the business. Elliott Management Corp raised its holdings in Northern Oil & Gas by 87.0% during the first quarter. Elliott Management Corp now owns 4,582,814 shares of the energy company’s stock worth $11,915,000 after purchasing an additional 2,132,555 shares in the last quarter. Vanguard Group Inc. raised its holdings in Northern Oil & Gas by 33.4% during the second quarter. Vanguard Group Inc. now owns 3,613,020 shares of the energy company’s stock worth $5,058,000 after purchasing an additional 905,328 shares in the last quarter. US Bancorp DE raised its holdings in Northern Oil & Gas by 126.6% during the second quarter. US Bancorp DE now owns 2,720,400 shares of the energy company’s stock worth $3,809,000 after purchasing an additional 1,520,000 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Northern Oil & Gas by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 707,647 shares of the energy company’s stock worth $1,840,000 after purchasing an additional 2,329 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Northern Oil & Gas by 10.7% during the first quarter. Goldman Sachs Group Inc. now owns 427,725 shares of the energy company’s stock worth $1,112,000 after purchasing an additional 41,431 shares in the last quarter.

Northern Oil & Gas Company Profile

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. The Company holds working interests in over 2,630 gross (204.3 net) producing wells, including over 2,630 wells targeting the Bakken and Three Forks formations and over two wells targeting other formations.

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