Imperial Capital Weighs in on Northern Oil & Gas, Inc.’s Q2 2019 Earnings (NYSEAMERICAN:NOG)

Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) – Investment analysts at Imperial Capital dropped their Q2 2019 earnings per share (EPS) estimates for shares of Northern Oil & Gas in a research report issued to clients and investors on Thursday, July 18th, Zacks Investment Research reports. Imperial Capital analyst J. Wangler now expects that the energy company will earn $0.08 per share for the quarter, down from their prior estimate of $0.09. Imperial Capital also issued estimates for Northern Oil & Gas’ FY2019 earnings at $0.38 EPS and FY2020 earnings at $0.48 EPS.

Northern Oil & Gas (NYSEAMERICAN:NOG) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. The company had revenue of $186.44 million for the quarter, compared to analyst estimates of $153.11 million.

Several other research firms have also weighed in on NOG. Zacks Investment Research raised Northern Oil & Gas from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Northland Securities set a $5.00 target price on Northern Oil & Gas and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Northern Oil & Gas presently has an average rating of “Buy” and an average price target of $3.88.

Shares of Northern Oil & Gas stock traded up $0.03 during trading hours on Monday, hitting $1.72. 6,298,714 shares of the company were exchanged, compared to its average volume of 5,449,815. Northern Oil & Gas has a 1 year low of $1.40 and a 1 year high of $4.49.

Several hedge funds and other institutional investors have recently modified their holdings of NOG. Millennium Management LLC grew its holdings in shares of Northern Oil & Gas by 9,921.3% in the 4th quarter. Millennium Management LLC now owns 11,124,026 shares of the energy company’s stock worth $25,140,000 after acquiring an additional 11,013,022 shares during the last quarter. FMR LLC grew its stake in Northern Oil & Gas by 92.5% in the first quarter. FMR LLC now owns 4,353,200 shares of the energy company’s stock valued at $11,928,000 after purchasing an additional 2,092,100 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Northern Oil & Gas by 57.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,995,137 shares of the energy company’s stock valued at $11,290,000 after purchasing an additional 1,824,622 shares in the last quarter. Columbia Pacific Advisors LLC grew its stake in Northern Oil & Gas by 226.1% in the second quarter. Columbia Pacific Advisors LLC now owns 1,396,202 shares of the energy company’s stock valued at $2,733,000 after purchasing an additional 968,102 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Northern Oil & Gas in the first quarter worth about $2,321,000.

In other Northern Oil & Gas news, major shareholder Robert B. Rowling acquired 1,000,060 shares of the stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $2.06 per share, for a total transaction of $2,060,123.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Robert B. Rowling bought 1,508,382 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $1.55 per share, with a total value of $2,337,992.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 3,508,442 shares of company stock worth $6,628,116.

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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