Northern Oil & Gas, Inc. (NOG) Given Average Rating of “Buy” by Brokerages
Shares of Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) have been given an average recommendation of “Buy” by the seven brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $4.20.
A number of research analysts have issued reports on NOG shares. Zacks Investment Research upgraded shares of Northern Oil & Gas from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Thursday, July 12th. Stifel Nicolaus set a $4.00 target price on shares of Northern Oil & Gas and gave the company a “buy” rating in a report on Wednesday, August 1st. Northland Securities set a $6.00 target price on shares of Northern Oil & Gas and gave the company a “buy” rating in a report on Wednesday, August 1st. Finally, Capital One Financial upgraded shares of Northern Oil & Gas from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 31st.
Shares of NYSEAMERICAN NOG opened at $3.73 on Friday. Northern Oil & Gas has a 52 week low of $0.63 and a 52 week high of $4.49.
A number of large investors have recently added to or reduced their stakes in the business. Angelo Gordon & CO. L.P. purchased a new position in Northern Oil & Gas in the 2nd quarter valued at about $39,076,000. BlackRock Inc. lifted its holdings in Northern Oil & Gas by 502.0% in the 2nd quarter. BlackRock Inc. now owns 8,368,829 shares of the energy company’s stock valued at $26,362,000 after purchasing an additional 6,978,583 shares in the last quarter. TPG Group Holdings SBS Advisors Inc. purchased a new position in Northern Oil & Gas in the 2nd quarter valued at about $25,200,000. Nokota Management LP purchased a new position in Northern Oil & Gas in the 2nd quarter valued at about $20,570,000. Finally, Serengeti Asset Management LP lifted its holdings in shares of Northern Oil & Gas by 170.8% during the 2nd quarter. Serengeti Asset Management LP now owns 3,250,000 shares of the energy company’s stock worth $10,238,000 after acquiring an additional 2,050,000 shares during the period.
About Northern Oil & Gas
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.
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