Northern Oil & Gas, Inc. to Post Q4 2019 Earnings of $0.21 Per Share, Seaport Global Securities Forecasts (NOG)

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Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) – Research analysts at Seaport Global Securities lifted their Q4 2019 earnings per share estimates for shares of Northern Oil & Gas in a report issued on Monday, May 6th. Seaport Global Securities analyst J. Aschenbeck now forecasts that the energy company will earn $0.21 per share for the quarter, up from their previous estimate of $0.19. Seaport Global Securities also issued estimates for Northern Oil & Gas’ Q1 2020 earnings at $0.19 EPS, Q2 2020 earnings at $0.19 EPS and Q3 2020 earnings at $0.19 EPS.

NOG has been the subject of a number of other reports. Northland Securities set a $5.00 price objective on shares of Northern Oil & Gas and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. SunTrust Banks set a $5.00 price objective on shares of Northern Oil & Gas and gave the stock a “buy” rating in a research note on Thursday, March 21st. TheStreet upgraded shares of Northern Oil & Gas from a “d” rating to a “c” rating in a research note on Wednesday, March 13th. Zacks Investment Research upgraded shares of Northern Oil & Gas from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. Finally, Imperial Capital set a $3.00 price objective on shares of Northern Oil & Gas and gave the stock a “hold” rating in a research note on Wednesday, January 23rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Northern Oil & Gas currently has an average rating of “Buy” and a consensus target price of $4.17.

NYSEAMERICAN NOG opened at $2.29 on Wednesday. Northern Oil & Gas has a 12-month low of $1.87 and a 12-month high of $4.49.

Northern Oil & Gas (NYSEAMERICAN:NOG) last posted its earnings results on Tuesday, March 12th. The energy company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.11. The business had revenue of $152.57 million during the quarter, compared to analyst estimates of $159.29 million.

In related news, major shareholder Crestview Partners Iii Gp, L.P sold 769,700 shares of the business’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $2.26, for a total transaction of $1,739,522.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 2,188,915 shares of company stock worth $5,281,334 in the last ninety days.

A number of hedge funds have recently made changes to their positions in the stock. Crestview Partners III GP L.P. bought a new stake in Northern Oil & Gas in the 4th quarter valued at $109,862,000. Millennium Management LLC increased its holdings in 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 valued at $25,140,000 after buying an additional 11,013,022 shares during the period. BlackRock Inc. increased its holdings in Northern Oil & Gas by 59.3% in the 3rd quarter. BlackRock Inc. now owns 13,330,385 shares of the energy company’s stock valued at $53,321,000 after buying an additional 4,961,556 shares during the period. Dimensional Fund Advisors LP increased its holdings in Northern Oil & Gas by 2,892.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,170,515 shares of the energy company’s stock valued at $12,681,000 after buying an additional 3,064,550 shares during the period. Finally, Vanguard Group Inc increased its holdings in Northern Oil & Gas by 21.5% in the 3rd quarter. Vanguard Group Inc now owns 10,675,890 shares of the energy company’s stock valued at $42,704,000 after buying an additional 1,891,771 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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Earnings History and Estimates for Northern Oil & Gas (NYSEAMERICAN:NOG)

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