SunTrust Banks Comments on Northern Oil & Gas, Inc.’s FY2017 Earnings (NOG)

Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) – Stock analysts at SunTrust Banks upped their FY2017 earnings per share (EPS) estimates for shares of Northern Oil & Gas in a report released on Tuesday. SunTrust Banks analyst N. Dingmann now anticipates that the energy company will post earnings of $0.06 per share for the year, up from their previous estimate of $0.03.

Northern Oil & Gas (NYSEAMERICAN:NOG) last announced its earnings results on Wednesday, November 8th. The energy company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The company had revenue of $54.26 million for the quarter, compared to analyst estimates of $51.04 million. Northern Oil & Gas’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 EPS.

NOG has been the topic of a number of other research reports. Imperial Capital set a $2.00 price target on Northern Oil & Gas and gave the stock a “hold” rating in a research note on Thursday, December 21st. Zacks Investment Research raised Northern Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $1.00 price target on the stock in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $1.75.

Shares of Northern Oil & Gas (NYSEAMERICAN NOG) opened at $2.43 on Thursday. The company has a market capitalization of $136.99, a price-to-earnings ratio of 60.75 and a beta of 1.76. Northern Oil & Gas has a fifty-two week low of $0.63 and a fifty-two week high of $4.00.

Several institutional investors and hedge funds have recently modified their holdings of NOG. Geode Capital Management LLC raised its position in shares of Northern Oil & Gas by 2.9% in the 1st quarter. Geode Capital Management LLC now owns 391,844 shares of the energy company’s stock worth $1,018,000 after buying an additional 11,148 shares during the period. Ameriprise Financial Inc. raised its position in shares of Northern Oil & Gas by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 227,945 shares of the energy company’s stock worth $319,000 after buying an additional 705 shares during the period. Isthmus Partners LLC raised its position in shares of Northern Oil & Gas by 60.7% in the 2nd quarter. Isthmus Partners LLC now owns 270,642 shares of the energy company’s stock worth $379,000 after buying an additional 102,198 shares during the period. Quantitative Investment Management LLC raised its position in shares of Northern Oil & Gas by 11.3% in the 2nd quarter. Quantitative Investment Management LLC now owns 90,500 shares of the energy company’s stock worth $126,000 after buying an additional 9,200 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Northern Oil & Gas by 33.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,613,020 shares of the energy company’s stock worth $5,058,000 after buying an additional 905,328 shares during the period.

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About Northern Oil & Gas

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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