Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 23,977,796 shares, an increase of 33.4% from the December 14th total of 17,969,416 shares. Based on an average daily volume of 5,419,642 shares, the days-to-cover ratio is presently 4.4 days. Currently, 12.8% of the company’s stock are short sold.
In other Northern Oil & Gas news, major shareholder Crestview Partners Iii Gp, L.P sold 2,865,329 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $3.49, for a total value of $9,999,998.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several institutional investors have recently added to or reduced their stakes in NOG. Legal & General Group Plc boosted its position in Northern Oil & Gas by 80.4% in the third quarter. Legal & General Group Plc now owns 29,102 shares of the energy company’s stock worth $116,000 after purchasing an additional 12,966 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its position in Northern Oil & Gas by 63.5% in the third quarter. Sterling Investment Advisors Ltd. now owns 51,500 shares of the energy company’s stock worth $206,000 after purchasing an additional 20,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Northern Oil & Gas by 42.9% in the second quarter. Dimensional Fund Advisors LP now owns 105,965 shares of the energy company’s stock worth $334,000 after purchasing an additional 31,803 shares during the last quarter. CAPROCK Group Inc. purchased a new position in Northern Oil & Gas in the third quarter worth about $156,000. Finally, Voya Investment Management LLC purchased a new position in Northern Oil & Gas in the second quarter worth about $123,000.
NYSEAMERICAN NOG opened at $2.70 on Friday. Northern Oil & Gas has a 12 month low of $1.47 and a 12 month high of $4.49.
Northern Oil & Gas (NYSEAMERICAN:NOG) last released its earnings results on Thursday, November 8th. The energy company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The firm had revenue of $102.27 million during the quarter, compared to analysts’ expectations of $119.05 million.
A number of research firms have recently commented on NOG. SunTrust Banks reissued a “buy” rating and issued a $4.00 target price on shares of Northern Oil & Gas in a research note on Thursday, November 29th. Zacks Investment Research cut Northern Oil & Gas from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $4.17.
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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