Analysts Offer Predictions for Northern Oil & Gas, Inc.’s FY2017 Earnings (NOG)
Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) – Stock analysts at Imperial Capital lifted their FY2017 EPS estimates for Northern Oil & Gas in a report released on Thursday. Imperial Capital analyst J. Wangler now forecasts that the energy company will post earnings per share of $0.07 for the year, up from their previous estimate of $0.05. Imperial Capital has a “Hold” rating and a $2.00 price objective on the stock. Imperial Capital also issued estimates for Northern Oil & Gas’ Q1 2018 earnings at $0.02 EPS, Q2 2018 earnings at $0.03 EPS and FY2018 earnings at $0.16 EPS.
Northern Oil & Gas (NYSEAMERICAN:NOG) last announced its earnings results on Wednesday, November 8th. The energy company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The firm had revenue of $54.26 million for the quarter, compared to the consensus estimate of $51.04 million. During the same period in the prior year, the business earned $0.04 EPS. The company’s quarterly revenue was up 30.1% compared to the same quarter last year.
Separately, Zacks Investment Research raised Northern Oil & Gas from a “hold” rating to a “strong-buy” rating and set a $1.00 target price for the company in a report on Wednesday, October 11th. One equities research 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 stock. The stock has an average rating of “Hold” and an average price target of $1.75.
Northern Oil & Gas (NYSEAMERICAN:NOG) opened at $1.85 on Monday. Northern Oil & Gas has a 52 week low of $0.63 and a 52 week high of $4.00. The firm has a market capitalization of $112.26, a PE ratio of 46.25 and a beta of 1.76.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Northern Oil & Gas by 33.4% during the 2nd 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. Gen IV Investment Opportunities LLC purchased a new stake in shares of Northern Oil & Gas during the 3rd quarter worth about $989,000. Geode Capital Management LLC raised its stake in shares of Northern Oil & Gas by 2.9% during the 1st quarter. Geode Capital Management LLC now owns 391,844 shares of the energy company’s stock worth $1,018,000 after purchasing an additional 11,148 shares in the last quarter. Isthmus Partners LLC raised its stake in shares of Northern Oil & Gas by 60.7% during the 2nd quarter. Isthmus Partners LLC now owns 270,642 shares of the energy company’s stock worth $379,000 after purchasing an additional 102,198 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Northern Oil & Gas by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 227,945 shares of the energy company’s stock worth $319,000 after purchasing an additional 705 shares in the last quarter.
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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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