Northern Oil & Gas (NYSEAMERICAN:NOG) Lifted to “Buy” at SunTrust Banks

Northern Oil & Gas (NYSEAMERICAN:NOG) was upgraded by analysts at SunTrust Banks from a “hold” rating to a “buy” rating in a research note issued on Wednesday, MarketBeat.com reports. The firm presently has a $2.00 price objective on the energy company’s stock. SunTrust Banks’ target price points to a potential upside of 138.41% from the stock’s previous close.

Several other research firms also recently weighed in on NOG. Northland Securities reaffirmed a “buy” rating and issued a $1.50 price objective on shares of Northern Oil & Gas in a report on Tuesday, May 12th. Imperial Capital reduced their price target on shares of Northern Oil & Gas from $2.50 to $1.50 and set an “outperform” rating for the company in a research note on Friday, March 13th. Zacks Investment Research upgraded shares of Northern Oil & Gas from a “sell” rating to a “hold” rating in a report on Thursday, March 26th. Finally, TheStreet raised Northern Oil & Gas from a “d” rating to a “c-” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Northern Oil & Gas currently has an average rating of “Buy” and a consensus price target of $1.67.

Shares of NYSEAMERICAN NOG opened at $0.84 on Wednesday. Northern Oil & Gas has a 12-month low of $0.50 and a 12-month high of $2.43.

Northern Oil & Gas (NYSEAMERICAN:NOG) last released its quarterly earnings results on Monday, May 11th. The energy company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $130.20 million for the quarter, compared to the consensus estimate of $146.16 million.

Several hedge funds and other institutional investors have recently bought and sold shares of NOG. Bank of New York Mellon Corp increased its stake in shares of Northern Oil & Gas by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,248,431 shares of the energy company’s stock worth $2,921,000 after acquiring an additional 6,495 shares during the last quarter. ProShare Advisors LLC grew its stake in Northern Oil & Gas by 21.2% in the fourth quarter. ProShare Advisors LLC now owns 40,209 shares of the energy company’s stock valued at $94,000 after purchasing an additional 7,024 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Northern Oil & Gas by 73.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,101 shares of the energy company’s stock worth $26,000 after purchasing an additional 16,520 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Northern Oil & Gas by 4.2% during the 4th quarter. Rhumbline Advisers now owns 423,858 shares of the energy company’s stock worth $992,000 after purchasing an additional 17,225 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Northern Oil & Gas by 9.4% during the 4th quarter. UBS Asset Management Americas Inc. now owns 254,579 shares of the energy company’s stock valued at $596,000 after buying an additional 21,784 shares during the last quarter.

Northern Oil & Gas Company Profile

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. The company primarily holds interests in the Bakken and Three Forks formations in the Williston Basin of North Dakota and Montana.

See Also: What is a put option?

Receive News & Ratings for Northern Oil & Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Oil & Gas and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply