Shares of Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) gapped up prior to trading on Monday . The stock had previously closed at $1.53, but opened at $1.70. Northern Oil & Gas shares last traded at $1.72, with a volume of 3733200 shares.

A number of brokerages have recently commented on NOG. Zacks Investment Research upgraded shares of Northern Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $1.00 price target for the company in a research note on Wednesday, October 11th. Imperial Capital began coverage on shares of Northern Oil & Gas in a research note on Tuesday, October 3rd. They issued an “in-line” rating and a $1.00 price target for the company. Finally, Royal Bank Of Canada set a $2.00 price target on shares of Northern Oil & Gas and gave the stock a “hold” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $1.50.

Northern Oil & Gas (NYSEAMERICAN:NOG) last issued its quarterly earnings results on Wednesday, November 8th. The energy company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.05. The firm had revenue of $54.26 million for the quarter, compared to analysts’ expectations of $51.04 million. During the same period in the prior year, the firm earned $0.04 EPS. Northern Oil & Gas’s revenue for the quarter was up 30.1% compared to the same quarter last year.

Several hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its holdings in shares of Northern Oil & Gas by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 227,945 shares of the energy company’s stock worth $319,000 after buying an additional 705 shares in the last quarter. Quantitative Investment Management LLC lifted its holdings in shares of Northern Oil & Gas by 11.3% in the second 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Northern Oil & Gas by 2.9% in the first 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 in the last quarter. KCG Holdings Inc. lifted its holdings in shares of Northern Oil & Gas by 123.9% in the first quarter. KCG Holdings Inc. now owns 44,133 shares of the energy company’s stock worth $115,000 after buying an additional 24,422 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Northern Oil & Gas by 10.7% in the first quarter. Goldman Sachs Group Inc. now owns 427,725 shares of the energy company’s stock worth $1,112,000 after buying an additional 41,431 shares in the last quarter.

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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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