550,000 Shares in Northern Oil & Gas, Inc. (NOG) Acquired by Hartree Partners LP
Hartree Partners LP bought a new stake in Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 550,000 shares of the energy company’s stock, valued at approximately $1,507,000. Northern Oil & Gas accounts for about 1.5% of Hartree Partners LP’s portfolio, making the stock its 17th biggest holding.
Other institutional investors and hedge funds also recently bought and sold shares of the company. First National Trust Co purchased a new position in shares of Northern Oil & Gas in the 4th quarter worth about $28,000. Virtu Financial LLC acquired a new position in shares of Northern Oil & Gas in the 1st quarter worth approximately $32,000. NumerixS Investment Technologies Inc acquired a new position in shares of Northern Oil & Gas in the 4th quarter worth approximately $46,000. Great West Life Assurance Co. Can acquired a new position in shares of Northern Oil & Gas in the 4th quarter worth approximately $48,000. Finally, Tealwood Asset Management Inc. bought a new stake in shares of Northern Oil & Gas in the 1st quarter worth approximately $49,000.
In related news, major shareholder Crestview Partners Iii Gp, L.P sold 605,842 shares of the business’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $2.53, for a total transaction of $1,532,780.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Northern Oil & Gas (NYSEAMERICAN:NOG) last posted its quarterly earnings data on Thursday, May 9th. The energy company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.05). The company had revenue of $132.68 million during the quarter, compared to analyst estimates of $142.86 million.
Several analysts recently issued reports on the company. TheStreet raised Northern Oil & Gas from a “d” rating to a “c” rating in a report on Wednesday, March 13th. Zacks Investment Research raised Northern Oil & Gas from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research report on Friday, May 10th. Northland Securities set a $5.00 price target on Northern Oil & Gas and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Imperial Capital set a $3.00 price target on Northern Oil & Gas and gave the stock a “hold” rating in a research report on Wednesday, January 23rd. Finally, SunTrust Banks set a $5.00 price target on Northern Oil & Gas and gave the stock a “buy” rating in a research report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $3.92.
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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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